Consequences of Russian-Ukrainian crisis require intensifying market control: PM



Thu, 11 Aug 2022 - 04:06 GMT


Thu, 11 Aug 2022 - 04:06 GMT

CAIRO – 10 August 2022: Prime Minister Moustafa Madbouli said Wednesday that the negative consequences of the Russian-Ukrainian crisis on the economy require tightening control campaigns on the markets to face illegal practices and irrational price hikes.

Madbouli’s comments came during his meeting with the Russian-Ukrainian crisis management committee to follow up the executive measures taken by government bodies to address the repercussions of the crisis.

The meeting grouped ministers of petroleum, immigrations, tourism and antiquities, supply, justice, higher education, along with local development, transport, international cooperation, agriculture, finance, and trade and industry.

Minister of Emigration Nabila Makram said since the beginning of this crisis, contacts have been made with Egyptians in Ukraine and necessary coordination was held with the Foreign Ministry to bring them home as per presidential directives.

She pointed out that two exams were held for returning students to determine their level and enroll them in private and national universities in March and May, adding that coordination is underway with the Ministry of Higher Education to hold a third exam within the coming period.

Now, there are less than 100 Egyptian students in Ukraine.

Minister of Higher Education and Scientific Research Khaled Abdel Ghaffar talked about enrolling Egyptian students returning from Ukraine in private universities, noting that 600 Egyptian students have now joined universities so far.

He added that the third exam for Egyptian students returning from Ukraine will be held in September and that no more exams will be held after that.

Minister of Supply and Internal Trade Ali Moslehi said since the beginning of the Russian-Ukrainian crisis, a plan was enacted that focused on diversifying wheat sources from 16 to 22, adding that the ministry succeeded in obtaining 2.7 million tons of wheat from different countries during the crisis, including France, Russia, Romania, Bulgaria and Germany.

With regard to the strategic reserve of commodities, the minister said sufficient wheat reserves are available that suffice the needs of local consumption for 7.2 months. We also have a reserve of rice sufficient for a period of 3.2 months, sugar for 6.6 months and oil for 5.3 months.

Minister of Trade and Industry Nevine Gamea said coordination is under way with export councils to make the best use of available export opportunities as a result of the disruption of supply chains in some countries, adding that intensive efforts are exerted to open markets for Egyptian goods in countries that suffer from a shortage of imports.




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