Egypt launches urgent plan to combat price hike
Minister of Supply Khaled Hanafy - YOUM7

CAIRO: The government has provided the consumption complexes with 800 tons of vegetables and fruits at low prices to combat a rise in food prices, Minister of Supply Khaled Hanafy told Youm7.

Hanafy added that since last Thursday, the government provisions are priced 20-25 percent below market rates.

The minister added that he had assigned the consumer protection agency and monitoring department in the Ministry of Supply to intensify campaigns on markets, to make sure goods are always available and follow up on prices with legal procedures against those who are price gouging.

Egypt’s food prices have soared amid decreasing global food prices, according to a U.N. Food and Agriculture Organization (FAO) report released May 7.

The cost of food and other supply commodities have decreased by 300 million EGP ($42 million) compared to last year, Minister of Supply Khaled Hanafy announced in a press conference May 11.

In April 2014, the Ministry of Supply launched an initiative to distribute subsidized bread with smart cards to guarantee that subsidies reach those who deserve them and that subsidized flour will not be sold on the black market.

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