Dr.
Salah Al-Qumouni, President of the Western Chamber of Commerce and a member of the Board of Directors of the Federation of Chambers of Commerce, emphasised the commitment of all traders to urge the government not to raise the cost of goods and burden citizens in light of the challenging economic circumstances that the Egyptian citizen faces as a result of the Russian-Ukrainian war, which has caused widespread confusion.
In press statements, Al-Qumouni further stated that the merchants’ large numbers had demonstrated their adherence to the government of Egypt’s directives not to manipulate the prices of strategic goods that directly impact Egyptian citizens’ lives. This was done to assist Egyptians in coping with the effects of the current period’s high inflation rates for many goods and services as well as the rise in the price of the dollar.
Al-Qumouni emphasised that the general status of the markets does not support a rise in the existing prices, and that everyone should work with the state and the government to get through these challenging situations so that we can pass them with the fewest possible losses.
The General Union of Chambers of Commerce issued instructions to all the chambers of commerce in the various governorates, according to the president of the Western Chamber of Commerce, stressing the need of following these directives and refraining from raising prices.
Additionally, due to a lack of space, committees were established in each governorate to keep an eye on the markets and report regularly on the prices of basic goods and commodities. These reports were then sent to the General Union of Chambers of Commerce, which in turn forwarded them to the appropriate government agencies to ensure that no violations or obstructions occurred. This practise manipulates prices while also guaranteeing the availability of goods.
Al-Qumouni urged customers to protect their rights and submit a complaint with the Consumer Protection Agency in order to stop attempts to take advantage of them and keep the markets stable.
Al-Qumouni applauded the Egyptian Central Bank’s recent decisions, which helped to maintain market stability and ensure that Egyptian citizens, whether consumers or producers and manufacturers, had access to basic materials and commodities. These decisions also help to bring the dollar into the banking sector by raising interest rates, which will help to maintain the currency’s purchasing power.
Al-Qumouni expressed his appreciation for the government’s decision to exempt Egyptians living abroad from paying customs and tax on automobiles, stating that this is one of the tools that will help the state achieve its goals by increasing the amount of money that expatriates deposit into the Ministry of Finance’s accounts without expecting anything in return. He also noted that everyone is eagerly awaiting the executive regulations that will specify the specifics of the importation procedure.
West Chamber of Commerce: Businesspeople are dedicated to following the state’s orders not to raise the cost of essential goods.
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