CAIRO, April 18 (MENA) - Prime Minister Mostafa Madbouli affirmed that there are directives for all relevant supervisory authorities to monitor all domestic markets and stores and deal decisively with any violations according to the law.

This came during the premier's chairing of a meeting on Thursday of the Committee for Market Regulation and Commodity Prices, attended by Minister of Supply and Internal Trade Ali El-Moselhi, Minister of Trade and Industry Ahmed Samir, CEO of the General Authority for Investment and Free Zones Hossam Heiba, President of the General Union of Chambers of Commerce Ahmed El Wakil, Head of the Competition Protection and Anti-Monopoly Agency Mahmoud Momtaz, as well as a galaxy of state bodies' top officials.

During the meeting, Madbouli pointed out that the government, through its various relevant bodies, periodically monitors the decrease in prices of various commodities in the domestic markets, as per to the mechanisms adopted by the state, represented by the government and the central bank, by releasing all goods in the ports and providing the required dollar component.

During the meeting, Osama El-Gohari, Assistant Prime Minister and Head of the Cabinet's Information and Decision Support Center (IDSC), which is responsible for the technical secretariat of the committee, reviewed the results of the field monitoring of the local price reduction initiative, noting that clear price reductions had been observed at the level of commercial chains since the launch of the initiative, reaching 23.8% for 7 strategic commodities: (sugar, beans, rice, cooking oil, pasta, white cheese, packaged milk).

El-Gohari reviewed the prices of commodities and their development compared to pre-initiative price levels and the percentage of the attained decrease after the initiative was launched, pointing out that the average general decrease was about 22.2% for sugar, 16.6% for rice, 23.8% for cooking oil, 13.7% for packaged pasta, 13.8% for white cheese, and 11.3% for packaged milk.

Regarding media coverage of the "price reduction" initiative, Osama El-Gohari explained that about 42 media items addressed the issue of commodity prices during the period from April 13 to 17, between visual and print media, confirming that the prevailing trend of opinions is the positive direction towards the state's role in stabilizing prices during the recent period.

In this context, he clarified that the most prominent media praise, in general, included: the state's achievement of stability in the prices of most basic commodities thanks to its efforts in controlling the exchange market and providing currency to manufacturers. The media also lauded the quick customs release of goods and production supplies, as well as the state's efforts in providing and making goods available through its various outlets.

The head of the IDSC presented the most prominent recommendations and demands in this regard, emphasizing the need for government intervention through its mechanisms to control prices and return them to their correct path, and stressing the importance of taking strict measures against anyone who bets on the government's decisions. He also underlined the necessity to ensure that any increase in drug prices be subject to state control.(MENA)
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