Price
In implementation to the IFM recommendation after Egypt has taken several batches of the IMF loan, the government plans to change the subsidized bread system from in-kind support to in cash.
Speaking to Sada El Balad satellite TV channel on Sunday evening, Homsani said Prime Minister Mostafa Madbouli and the minister of electricity reviewed today the efforts afoot to improve national power grids and scale up their efficiency.
Participants in the National Dialogue's session on inflation and price hikes demanded Tuesday the detection of price manipulation and monopolistic practices.
This came during the meeting of the Egyptian Fuel Automatic Pricing Committee (FAPC) on Wednesday.
The prime minister stipulated that the government would not allow price exaggerations, and attempts to exploit the situation.
Hossam El Din's statements are made amid an expected rise in prices due to the devaluation of the Egyptian pound on Thursday.
Prime Minister Mostafa Madbouli met Wednesday with large cement and steel manufacturers at the Cabinet's headquarters to discuss the hike in prices.
The decision stipulated that the sale of the bread would be 50 piasters for a 45-gram loaf, 75 piasters for a 65-gram loaf, and at LE 1 for a 90-gram, and LE 11.5 for a kilo of packaged bread.
The statement asserted that most of the commodities, especially food commodities, will remain stable.
Those were committed in less than one week.
A request to make an exception was made by the Energy and Environment Committee at the House of Representatives.
President Abdel Fatah al-Sisi announced a number of decisions aimed at alleviating the impact of inflation on millions of citizens.
Tesla said the worldwide price hikes will apply to the more expensive variants of Model 3, Model S and Model X, and there will be no price increase to the $35,000 Model 3.
Oil prices rose sharply on Tuesday after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane.
The gold prices dropped about three pounds registering LE 614, 526.30 and 701.70 for one gram of 21, 18 and 24 carat gold respectively.
Skyrocketing prices have led to practitioners buying cheaper devices and spare parts or manipulating the pulse width and duration.
European shares were supported on Wednesday by strength in oil stocks after U.S. President Donald Trump pulled the U.S. out of Iran’s nuclear agreement.
Oil prices rose more than 3 percent on Wednesday, hitting 3-1/2-year highs, after U.S. President abandoned a nuclear deal with Iran and announced sanctions.
The Supply Ministry denied any increase in the price of sugar after Egypt’s decision to raise the price of sugarcane purchased from local farmers.
Amid a decline in the Sudanese economy, bread prices have doubled due to a government ban on the private sector importing wheat.
