New initiative supporting Egyptians by goods at reduced prices to launch Sunday

CAIRO – 25 July 2020: A presidential initiative aiming to support Egyptian consumer by providing goods at reduced prices will launch Sunday.

The initiative seeks to provide goods with discounts of up to 20 percent, and additional support starting from L.E.200 to L.E. 1,000 for each ration card, which is estimated at L.E. 12.25 billion paid by the public treasury.

Minister of Justice Mohamed Maait said that the initiative is a presidential mandate to effectively contribute to moving the economy’s wheel for the benefit of the manufacturers, traders and consumers; encourage factories to work at their full production capacities; stimulate the local product; boost the internal trade movement; meet citizens’ demands at suitable prices and increase economic growth rate.

Minister Maait ensured that the political leadership is keen on providing goods to citizens at reduced prices; reduce the burden on them, which enable to limit the economic repercussions caused by the COVID-19 pandemic.  

He further said that the presidential initiative that aims to encourage consumption of the local product, includes home appliances, electronic devices, ready-to-wear clothes, leather products, furniture, handicraft industries and others available on the initiative website:

https://www.mobadra.gov.eg/ 

Consumers can also buy on installments as the initiative provides commodities at reduced interest rates in cooperation with a number of Egyptian banks, and finance companies.

Minister Maait also pointed out that all necessary measures and guarantees are taken to achieve success of the initiative, which will be subject to comprehensive evaluation to identify the extent to which its objectives were achieved.

A total 4, 231 produces, 178 traders were registered as part of the initiative after their data were ratified by the Federation oF Industries and Federation of Chambers of Commerce, as well as 22 million ration cards were registered.