Price tag decree modified to be optional: Al-Wakil

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Wed, 13 Dec 2017 - 11:43 GMT

File – Ahmed Al-Wakil, chairman of the Federation of African and Egyptian Chambers of Commerce

File – Ahmed Al-Wakil, chairman of the Federation of African and Egyptian Chambers of Commerce

CAIRO – 14 December 2017: Supply Minister Ali El-Moselhi has modified his price tag decree in a way that makes manufacturers and importers not obligated to put prices on their products, Ahmed Al-Wakil, chairman of the Federation of Egyptian Chambers of Commerce, told Egypt Today on Wednesday.

“I just ended a meeting with the minister. He affirmed that a new modification was made regarding the price tag decree he issued late October. The modification allows manufacturers and importers to freely put prices on their products,” Wakil said. He noted that the new modification will be published on Thursday.

Moselhi issued a decree in the Egyptian Official Gazette late October stipulating that “all food producers, importers, packagers and suppliers of food products must label every product in Arabic and in clear font that cannot be erased.”

The price tag decree stipulates that violations could result in jail sentences of up to five years, fines and confiscations.

Moselhi warned Tuesday that any commodity “without a price tag” will be confiscated as of January 1, 2018, triggering dissatisfaction among both importers and manufacturers.

“This decree is non-implementable and illogical,” Alaa Ezz, secretary-general of the Federation of Egyptian Chambers of Commerce, told Egypt Today just following the minister’s warning, adding that the decision will face major challenges.

Ashraf El Gazayerli, chairman of the Chamber of Food Industry (CFI) and a rejecter of the price tag decree who has announced his refusal many times before, said in a satisfied voice that he trusts the minister will apply the decree in a way that doesn’t harm the interests of manufacturers.

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