Egypt's newly-named Prime minster Mostafa Madbouly talks at Egypt Mega Projects MEED Conference in Cairo, Egypt, December 8, 2015. REUTERS/Mohamed Abd El Ghany
CAIRO - 8 March 2022: Prime Minister Mostafa Madbouli said on Tuesday President Abdel Fattah El Sisi has directed to preserve the country's strategic stock of basic commodities and track any change in their prices in the global and local markets.
Madbouli stressed the State will not allow any greedy trader to hoard and hide commodities, vowing that legal action will be taken against those who do so and pointing out that the government is closely following up the developments of the Russian-Ukrainian crisis and its bad impact on prices and the availability of essential goods in the global market.
Madbouli was speaking during his meeting with Supply and Internal Trade Minister Ali el Moselhi, Finance Minister Mohamed Maait, Interior Minister Mahmoud Tawfik, Agriculture Minister El Sayyed El Quseir, Trade and Industry Minister Nevine Gamea, and Chairman of the Consumer Protection Authority (CPA) Ayman Hossam El-Din to follow up on efforts to meet the local market’s needs of various types of basic commodities.
The prime minister stressed the importance of coordinating among all ministries and official bodies concerned to provide the local market with all its needs of essential commodities at affordable prices.
The government works on preserving a strategic stock of the basic commodities, topped by wheat, the premier said, pointing out that about 3.6 million feddans of wheat had been cultivated in Egypt this year.