Cairo’s Chamber Urges Traders not to Raise Commodities Prices

Chairman of the Arab Chamber of Commerce in Cairo, Ibrahim Al-Araby urged the traders to taking into account the country’s hard economic conditions along with not exploiting high prices of fuel which has recently approved by the government.

The prices of goods and products which affected by the government’s decision is inevitable and the only way to control the market is to increase the supply of goods in excess of demand rates, Al-Araby noted.

Transportation and logistics processes are the mainstay and thus will necessarily lead to a rise of commodities; Al-Araby spoke to Amwal Al Ghad.

Egypt has implemented the raise fuel prices in ranges that reach up to a 78 percent hike starting midnight, as the country tries to cut energy subsidies to ease the burden on its swelling budget deficit.