Sisi directs provision of discounted goods, market oversight ahead of Ramadan

CAIRO – 26 January 2025: President Abdel Fattah El-Sisi underscored the importance of ongoing efforts to alleviate the burden on citizens, ensure sufficient reserves of essential goods, and provide these items at discounted prices in anticipation of the holy month of Ramadan.

During a meeting with state officials on Sunday, Sisi reviewed the progress of coordination efforts among relevant entities to guarantee the availability of necessary goods at affordable prices.

He followed up on state’s efforts aimed at offering products at discounted rates and regulating markets to support citizens as Ramadan approaches.

The president directed the continuation of presidential initiatives to assist the most vulnerable groups, ensuring that citizens' needs are met, particularly during Ramadan.

Sisi also emphasized the necessity of maintaining collaboration with the private sector to deliver high-quality products at reasonable prices.

In attendance at the meeting were Prime Minister Mostafa Madbouly, Minister of Supply and Internal Trade Sherif Farouk, Head of the Armed Forces Financial Affairs Authority Lieutenant General Ahmed El-Shazly, and Executive Director of the “Future of Egypt” Authority for Sustainable Development Colonel Bahaa El-Ghannam.

EXPANDING PROTECTION

The discussions included expanding social protection networks and reviewing efforts to reform and restructure the subsidy system by adding all eligible beneficiaries while excluding those who are not.

The inclusion of beneficiaries from the "Takaful and Karama" program and families of martyrs was emphasized.

Sisi highlighted the importance of governing the subsidy system's procedures by adopting the most effective methods and mechanisms to ensure that subsidies reach their rightful recipients and target the vulnerable groups.

COMMODITIES EXCHANGE

Furthermore, the meeting addressed the activation of the commodities exchange and its critical role in achieving food security and enhancing the sustainability of essential goods at affordable prices.

This initiative is seen as a strategic move to reduce intermediaries and monopolies while strengthening the unified purchasing mechanism to regulate prices and balance the market.

The president reaffirmed the goal of transforming Egypt into a regional logistics hub for the trade of strategic goods, which would enhance its economic position both regionally and internationally.

BOOSTING RESERVES

The supply minister reported that the strategic reserve of basic goods is currently sufficient for six months.

In response, Sisi directed ensuring sustainable food security, increasing strategic reserves of goods, and bolstering market monitoring to prevent monopolization of essential items.

The president also called for the development of integrated policies to improve production efficiency, reduce waste, and enhance supply chains, in order to ensure that food reaches citizens fairly and sustainably.

He also directed to ensure the provision of opportunities for the private sector to contribute to price stability and improve food quality.