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Federation of Chambers of Commerce: No price increase until the end of the year


A major government role in providing dollar access to the release of all goods and production inputs to ensure that factories operate at full capacity

Continuous availability of goods drives out speculators and ensures low prices

Engineer Ibrahim Al-Arabi, head of the General Federation of Chambers of Commerce, announced the convening of a permanent committee in the Federation of Chambers of Commerce and Provincial Chambers to ensure the flow of goods and inputs for the production of food commodities factories released from the ports to the markets, which was agreed upon with the Ministry of Supply and Internal Trade to release them to ensure the availability of all production inputs. Factories of food products and necessary commodities in the markets, noting that based on presidential mandates to ensure price stability and the availability of all commodities, the Federation of Chambers of Commerce and the Chamber of Food Industries in the Federation of Industries communicated with producers and importers of food commodities to inventory production requirements and basic commodities in ports, and within the mandates of the Ministry of Supply and Internal Trade The factories are operating at their full production capacity, as more than 4,000 shipments of production requirements and foodstuffs have been released during the past 48 hours to fill the shortage in all raw materials in order to increase supply, achieve abundance and create competition for price stability, and food producers and traders pledged during their meeting with the Minister of Supply and Internal Trade yesterday No price increase until the end of the year The current situation with a commitment to operating food products factories at full capacity

Al-Arabi added that the only way to control any unjustified increase in prices is to provide the largest possible availability of all commodities beyond the volume of daily demand to stop the activity of price speculators, pointing out that the commercial code of honor prevents speculation and ensures the commitment of the honorable merchant to a profit margin commensurate with the economic conditions. It takes into account the social dimensions and that speculation and exploitation of the shortage of supply only come from speculators and hot money that has nothing to do with honest commercial work.

Al-Araby praised the continuous efforts of the Prime Minister, the Governor of the Central Bank and the Ministers of Supply, Internal Trade, Trade and Industry in managing the dollar liquidity needed to release more than 4,000 shipments of production requirements and foodstuffs during the past 48 hours.

Al-Araby had issued instructions to all the administrative bodies of the Federation of Chambers of Commerce and Chambers of Commerce in the governorates to monitor the daily movement of the markets, and an agreement was reached with the Ministers of Supply and Industry, manufacturers and importers of food commodities and commercial chains that the food industry factories operate at full capacity three shifts after providing all production requirements to reach For maximum capacity, with the aim of increasing the supply of goods in all governorates and creating competition for price stability, with the development of mechanisms to monitor supply chains.

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