LE130B allocated for supply sector development program during 2018/19

CAIRO - 17 September 2018: Minister of Planning, Follow-Up and Administrative Reform Hala el Saeed said the total cost of the basic programs to develop the supply and internal trade sector during the fiscal year 2018/2019 hits LE 130 billion, noting that the program aims at providing strategic commodities at affordable prices and prevent any monopolistic practices at the Egyptian market.

In a statement released on Monday, Saeed said the program aims at enhancing the role of market monitoring agencies across the country along with raising the quality of services offered by supply offices in a way that could reduce commercial cheating practices.

She made it clear that the targeted plan included channeling EGP 74.2 million's worth of investments to complete the projects of developing the ministry's supply directorates in all governorates.

Saeed also pointed out that a program has been outlined to support the supply of strategic commodities and ensure that food subsidies reach the actual targeted beneficiaries.

Meanwhile, a sum of LE 28 billion has been funneled for investments in the wholesale and retail trade sector in the plan of fiscal year 2018/2019 with the objective of increasing trade growth rate to 4 percent compared with 3.2 percent growth in FY 2017/2018, according to the statement.

The minister also noted that the supply and internal trade sector has a key target of securing a safe stock of strategic commodities at affordable prices for citizens, increasing the contribution of internal trade to the economic growth rates in addition to countering any random dealings in the sector at the local market.