The Central Bank of Egypt announces rising building-material prices
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.
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Analysts expect no immediate effect on consumer prices: current stock covers market needs at least to the end of next quarter.
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.
How the decision came about
Chamber figures put the number of registered businesses at 41,000, up by 3,400 on last year, most of them in retail and logistics.
Transparency in the supply chain is not a burden on the market; it is what protects it from monopoly.
The meeting closed by forming a joint Chamber–ministry committee, meeting weekly to follow implementation and reporting monthly to the federation’s board.
What it means for traders
- 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
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.
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