Egypt’s Prime Minister Mostafa Madbouly held a meeting on Tuesday with Minister of Supply and Internal Trade Sherif Farouk to review the ministry’s efforts to stabilise market prices and combat unjustified price hikes, particularly for essential goods.
Farouk outlined measures already taken and underway to achieve this goal, including the distribution of 300,000 tons of commodities, including food, meat, poultry, and other goods, through various channels, including government-run grocery stores, consumer complexes, and the “Gameety” project, as well as mobile vehicles.
The meeting also explored proposals for further market stabilisation and price control. Farouk emphasised the importance of developing consumer complexes to increase their competitiveness through expansion and greater presence across the country. He also highlighted the need to develop and restructure wholesale warehouses to support strategic stockpiling.
The minister stressed the importance of regulating wholesale markets to reduce the number of intermediaries, ultimately lowering the cost of goods and contributing to price stability. He also underlined the importance of standardising food initiatives in terms of organisation, monitoring, and analysis of results, as well as the quantity and prices of goods provided through these initiatives, to ensure their effectiveness.
Madbouly expressed reassurance about the availability of reserves for various goods. Farouk confirmed that the stock levels of different commodities were within safe limits, noting ongoing efforts to increase reserves, particularly for essential goods. He highlighted the ministry’s adherence to directives from President Abdel Fattah el-Sisi in this regard.
In conclusion, Madbouly emphasised the importance of continuous monitoring by relevant state agencies and cooperation and coordination to ensure the availability of goods in markets at appropriate quantities and prices to meet the needs of citizens.
