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.
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.
The figures in brief
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
- new pricing rules for staple goods among next quarter’s priorities
- A review of the timetable with the trade divisions
- A monthly report to the federation’s board
Analysts expect no immediate effect on consumer prices: current stock covers market needs at least to the end of next quarter.
Ahmed El-Shahbandar
Samy Guirguis
Hala Soliman