A worker goes about his day while waiting for customers at a supermarket in Cairo, Egypt, October 26, 2016 - REUTERS/Amr Abdallah Dalsh
CAIRO – 4 January 2018: The Supply Ministry and producers are fully cooperating to implement the price tag decree, which came into force this month, Head of the Food Industries Chamber at the Federation of Egyptian Industries (FEI) Ashraf el-Gazayerly said Thursday.
He said that despite the difficulties of implementing the decree, producers are cooperating to implement it.
Supply Minister Ali Moselhy issued a decree in October that orders food manufactures to put price tags on their products in “clear and non-erasable Arabic”.
The decree punishes violators with one to five years in prison and a fine of between LE 300 and LE 1,000, in accordance with Article 9 of the Compulsory Pricing and Profit-Regulation law.
The decision is meant to put a brake on inflation, which skyrocketed on the back of the flotation of the Egyptian pound and cutting fuel subsidies in late 2016.
Producers were concerned about the difficulties of implementing the decision and the complications it could create, hampering the production process.
Moselhy said last month that the ministry will seize any commodity without a price tag as of January 1, 2018. The ministry has given the market a grace period until December 31, 2017, to sell all its unlabeled goods.