Cairo Chamber To Discuss Steel Companies’ Decision Of Rising Prices

The General Division for Building Materials, at Cairo Chamber of Commerce, will hold a meeting today to discuss several issues. The steel companies’ announcement of putting prices up will top the meeting. The companies have claimed to raise the prices to EGP 4850, about EGP 450 up.

For his part, Ahmed Al Zainy, Head of the General Division for Building Materials, has elaborated that the companies’ decision came due to the Minister of Industry’s decision imposing fees on the imported steel, whereas there is competition on the imported steel; consequently monopolizing ways on the domestic products emerged.

He added that the meeting will also discuss the prices of the building materials, which remarkably increase during the last period, in addition to the crisis of the tractor trailers that may go into strike next April.

A number of the division’s members and representatives from Citizens against Prices Rise, Egyptian Competition Authority, Customer Protection Authority, and Internal Trade Sector.