PM asserts importance of CPA’s role in controlling commodities prices in markets

CAIRO – Egyptian Prime Minister Moustafa Madbouli asserted the importance of the role of the Consumer Protection Agency (CPA) in the coming period, especially in light of the government’s commitment to regulating prices in the markets through all possible means, reiterating the need for a periodic monitoring of the supervisory role of the agency.

This came during Madbouli’s presidency over the cabinet meeting on Sunday in the presence of Head of CPA Ibrahim El-Segini as part of a review of the agency’s efforts and mechanisms for controlling prices of goods in the markets.

During the meeting, Madbouli highlighted the necessity of developing a comprehensive vision for improving the performance of the CPA to achieve its assigned goals.

In this regard, he directed the support of the agency with qualified personnel contributing to its development. He also suggested considering cooperation with research centers, universities, the Information and Decision Support Center (IDSC), the Central Agency for Organization and Administration (CAOA) regarding studying effective ways to control the markets. Additionally, he stressed the need to develop a comprehensive vision to activate the agency’s work.

During the meeting, Head of CPA El Segini noted the significant interest in activating the supervisory role as a central axis in the agency’s work. This simultaneously emphasized the role of the state in market supervision. He presented a report on the agency’s efforts from November 16, 2023, to January 25, 2024.

El-Segini explained that 1918 supervisory campaigns were launched, and 7580 reports were recorded. As part of market control campaigns, approximately 268 tons of sugar were seized at prices in violation of the declared price per kilogram, which is 27 pounds. Other violations related to non-disclosure of prices were discovered, leading to the registration of about 3225 reports on non-disclosure of prices.

El-Segini highlighted that 85.2% of the total received complaints, amounting to around 39,447 complaints between November 16, 2023, and January 25, 2024, have been addressed.

At the end of the meeting, Madbouli instructed the preparation of a periodic report on the agency’s work and the efforts made to control prices in the markets, reflecting the state’s interest in monitoring this important file.