Egypt declares 7 essential goods as strategic; implements measures for market control, price regulation – Egypt Today

Egypt declares 7 essential goods as strategic; implements measures for market control, price regulation – Egypt Today

CAIRO - 30 December 2023: Egypt’s Prime Minister, Mostafa Madbouly issued a decision, on Saturday, declaring seven essential commodities, namely mixed oil, broad beans, rice, milk, sugar, pasta, and white cheese, as strategic products in the application of Consumer Protection Law No. 181 of 2018. 

 

The law prohibits withholding these goods and products from trading, whether by hiding them, not offering them for sale, refusing to sell them, or in any other form, for a period of six months starting from the date of implementing this decision or until further notice, whichever comes first.

 

The decision obliges holders of the mentioned seven commodities, for purposes other than personal use, including producers, suppliers, distributors, and sellers, to immediately notify the relevant directorates of supply and internal trade nationwide about the type and quantities of these goods they may have in stock, provided that the supply controls and procedures are adhered to, as determined by a decision of the Minister of Supply and Internal Trade.

 

According to the decision, anyone who violates the provisions of this decision will be subject to the penalties stipulated in Article 71 of Consumer Protection Law No. 181 of 2018.

 

Additionally, the Prime Minister issued Decision No. 4585 for the year