The ministry’s representative stressed that the new rules aim at transparency in the supply chain rather than at fixing prices, and that breaches will go to the Consumer Protection Agency.
The division head said the meeting examined the direct effect of the decision on supply inside the local market, and that the Chamber submitted a detailed memorandum carrying traders’ proposals on the timetable.
What it means for traders
The meeting closed by forming a joint Chamber–ministry committee, meeting weekly to follow implementation and reporting monthly to the federation’s board.
Verdict
The fair, reviewed
Well organised, and busier than expected.
- Organisation 8.8
- Turnout 8.0
What we liked
- A wide turnout
What we didn’t
- Cramped floor space
Every day of delay in customs release costs an importer more than any tax cut saves him.
He added that stock turnover improved by close to 12% over the last quarter, but that the cost of finance remains the first obstacle to expansion in the governorates.
How the decision came about
- the financial-inclusion drive for traders among next quarter’s priorities
- A review of the timetable with the trade divisions
- A monthly report to the federation’s board
A number of importers argue that the proposed timetable needs a transition period of at least six months, so that small businesses can adapt their accounting systems.
Noha El-Sawy
Reem El-Qady
Hala Soliman