Egypt’s Prime Minister Moustafa Madbouli has called for intensified monitoring of markets to ensure the steady availability of essential commodities and prevent any attempts at price manipulation, amid concerns over the potential economic repercussions of rising regional tensions.
Chairing a meeting of the Governors’ Council on Sunday, Madbouli said the government is closely following the implications of the ongoing military escalation in the region and its potential impact both globally and domestically. In this context, he stressed the importance of maintaining strict oversight of markets to guarantee the continuous availability of goods at balanced prices.
The meeting was attended by Minister of Local Development and Environment Manal Awad and Minister of Supply and Internal Trade Sherif Farouk, alongside a number of governors.
Madbouli noted that the government’s proactive measures have secured safe and reassuring reserves of various strategic and essential commodities sufficient for several months. He also reviewed ongoing efforts carried out in coordination with the banking sector to ensure that the energy and industrial sectors have access to their required inputs.
The prime minister stressed that governors’ primary responsibility during this period is to intensify field inspection campaigns targeting markets and retail outlets, in coordination with relevant ministries and regulatory authorities, in order to protect citizens from monopolistic practices and ensure the orderly functioning of markets.
Madbouli also referred to directives issued by President Abdel Fattah el-Sisi during a Ramadan iftar hosted by the Egyptian Military Academy, calling for a study into the possibility of referring price manipulators to military courts. The president, he said, underscored the need to prevent any exploitation of current circumstances to unjustifiably raise prices or manipulate markets.
As part of efforts to strengthen market discipline and protect consumers, the government will receive citizens’ complaints through the Unified Government Complaints System affiliated with the Cabinet, encouraging the public to report any cases of price manipulation, hoarding of goods, or excessive price increases.
Madbouli also stressed the need to continue measures aimed at rationalising electricity consumption, excluding factories, homes, and productive facilities, while emphasising the importance of reducing electricity use in streets and main roads.
He also called on governors to maintain close oversight to prevent illegal construction and encroachment on agricultural land, directing that any violations be removed immediately, particularly during the upcoming Eid al-Fitr holiday period.
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