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 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 Chamber’s view
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.
| Commodity | Last week | This week |
|---|---|---|
| Steel | 41,200 | 42,000 |
| Cement | 3,850 | 3,900 |
Every day of delay in customs release costs an importer more than any tax cut saves him.
The Chamber had earlier launched a trader training programme on e-invoicing, taken up by more than 2,100 participants across six governorates.
The figures in brief
- 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.
Mostafa Abdel-Latif
Mona Abdel-Hakim