Price Hike
The National Dialogue will discuss next week top priority issues, including means to face price hike to alleviate its burden on citizens.
The Egyptian government is working on a set of measures in order to alleviate the repercussions of the economic crisis, President Abdel Fattah El-Sisi said on Saturday.
The Cabinet media center denied reports purporting a planned increase in rice prices in the markets in the coming period due to supply shortage.
Subir Lall said that the Egyptian economic situation is not bad, as all countries are clearly suffering a rise and change in prices.
President Abdel Fatah al-Sisi called on Egyptian people to unite against economic challenges that Egypt has witnessed.
Eastern Company’s revenues are expected to hike to LE 300 million in the fiscal year of 2017/18, as a result for the price hikes of some cigarettes’ brands.
The Ministry of Finance applied the value-added tax (VAT) on the prices of internet ADSL services by 14 percent starting from July 2017.
Public Taxes Authority announced in a Wednesday statement that Eastern Company’s decision raising cigarettes’ price has no relation to any amendments in the Value Added Tax (VAT) law.
Eastern Company raised the price of three cigarette brands by 4.2 – 17.6 percent (LE 0.50 – LE 2.25, $0.028 – $0.126) as of Wednesday, the company announced.
Egyptian Iron and Steel (HADISOLB) achieved LE 1.1 billion ($62 million) sales in the eleven months ended May 2017.
Sale prices of steel rise due to lack of billet and one percent VAT increase.
