Cabinet: Lower foodstuff prices during Ramadan

Cabinet spokesperson Alaa al-Hadidy on Wednesday announced a 15 percent reduction in the prices of certain consumer goods during the month of Ramadan.

Investment Ministry sources told Al-Masry Al-Youm that the ministry devised plans in collaboration with the Supply Ministry and the Internal Trade Ministry to reduce the prices of foodstuff in co-ops for a month as of 25 June.

“We are talking about the prices of 22 commodities,” said Ayman Salem, chairman of El-Masreya Company for Wholesale Trade, a subsidiary of the state-run Egyptian Food Industries Holding.

“The Finance Ministry will bear the cost of lowering these prices in order to meet consumer needs during Ramadan,” Salem added.

The month of Ramadan is usually marked by heavy consumption of food commodities.

Edited translation from Al-Masry Al-Youm

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