Egypt's Ministry of Supply and Internal Trade has announced that it will continue its initiative to reduce prices of essential goods until March 2027. The initiative, launched in line with directives from President Abdel Fattah El-Sisi to provide goods at reduced prices, aims to alleviate the burden on citizens. The program offers a range of staple goods, including oil, sugar, and rice, at prices reduced by up to 30% compared to those in the open market.
The initiative is being implemented through the Ministry's outlets across all governorates in Egypt. In Cairo, there are 38 outlets distributed across different districts. These outlets will offer over 30 essential goods at discounted prices, including rice, which will be sold at 25 pounds per kilogram, and sugar, also at a reduced price. This move is expected to encourage traders not to raise prices in their stores, as the goods will be available at a lower cost through the Ministry's outlets.
According to Abdel Basset Abdel Naim, Deputy Minister of Supply for Cairo, the initiative seeks to increase the supply of strategic goods and prevent traders from manipulating prices and hoarding goods. By providing essential goods at discounted prices, the Ministry aims to stabilize the market and meet the needs of citizens.
The price reduction initiative is part of the government's efforts to support citizens and maintain economic stability. The Ministry of Supply and Internal Trade has been working to ensure the availability of essential goods and control prices in the market. The continuation of this initiative until March 2027 is expected to have a positive impact on the lives of Egyptian citizens.
The Ministry's efforts to reduce prices and increase the supply of essential goods have been ongoing. In recent months, the Ministry has launched several initiatives to support citizens and maintain economic stability. These initiatives have included the distribution of subsidized goods through the Ministry's outlets and the implementation of measures to control prices in the market.
The Egyptian government has been working to address the economic challenges facing the country, including inflation and price increases. The Ministry of Supply and Internal Trade's initiative to reduce prices and increase the supply of essential goods is part of these efforts. The government has also been working to improve the business environment and attract investment to support economic growth.
The continuation of the price reduction initiative until March 2027 is expected to benefit millions of Egyptian citizens. The initiative will help to alleviate the burden on citizens and maintain economic stability. The Ministry of Supply and Internal Trade will continue to work to ensure the availability of essential goods and control prices in the market.
Key points
- The Egyptian Ministry of Supply and Internal Trade will continue its price reduction initiative until March 2027, offering 30 essential goods at discounted prices.
