The Investment Authority announces rising building-material prices

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.

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.

Where the divisions stand

The Chamber had earlier launched a trader training programme on e-invoicing, taken up by more than 2,100 participants across six governorates.

Analysts expect no immediate effect on consumer prices: current stock covers market needs at least to the end of next quarter.

How the decision came about

• export facilities into African markets 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.