The group Citizens Against High Prices have decided to file a complaint with the Egyptian Competition Authority against Ezz El-Dekheila Steel Company for raising the price of its products by an average of LE820 per ton during the month of April.
Ezz El-Dekheila argues its prices are still lower than those of neighboring countries, saying that they sell a ton of iron for LE300 cheaper than other companies in the region.
In a statement yesterday, the group described Ahmed Ezz, head of the board of directors of the company, as "the consumers’ first enemy", accusing him of manipulating consumers and violating the law on protecting competition and preventing monopolistic practices.
The statement called Ezz’s pricing policies unjustified, saying that the increase in iron prices by LE820 per ton is a an "extreme form of opportunism."
The statement called on Minister of Trade and Industry Rachid Mohamed Rachid to place Ezz’s company under investigation and to quickly present amendments to the law on consumer protection to the People’s Assembly.
Ezz El-Dekheila, on the other hand, has insisted the price increase was prompted by a universal rise in the costs of raw materials and other inputs by around 30 percent.
Translated from the Arabic Edition.
