CAIRO: “The Egyptian Armed Forces will not only provide subsidized products and will run its public transport buses fleet starting June 7,” Armed Forces official spokesperson Mohamed Ghoneim said Sunday.
Minister of Defense Sedky Sobhy ratified Sunday evening the decision to impose subsidized goods for citizens at all armed forces’ wholesales outlets, including armies, National Service body, and the General Services Authority, according to their official website.
“By offering subsidized goods and providing mass transportation, the Armed Forces seeks to control prices, lessen citizens’ burdens, prevent monopoly, and ease transportation,” Sedky added.
At wholesale outlets, the armed forces will impose all types of subsidized food products to control the market and decrease prices due to the recent increase in prices and fees over oil price hike, Ghoneim said.
The government raised the price of fuel Saturday without prior notice.
Raising oil prices up to 78 percent has not only caused traffic jams at gas stations but also impacted the tariff of private transportation vehicles amid a notable security lapse.
The Consumer Protection Agency warned Saturday that the last oil price hike following the removal of government subsidies could cause as much as a 200 percent increase in all products prices. It would be caused by a certain increase in transportation costs and a possible increase in productions costs, Al-Mary Al-Youm reported.
Prime Minister Ibrahim Mahlab announced Sunday that “there is no time to waste” and that these measures were made to achieving public interest, flourish the economy, and raise the standards of living.
Mahlab’s government is coordinating with the police to balancing price, control the markets, and prevent smuggling and monopoly.