FEI Calls for Customs Rises On Importers To Finance Budget Deficit

The board of FEI, Federation of Egyptian Industries, in a meeting with the Minister of Industry yesterday, called for balancing the dependence on the industrial activity and the commercial one in fill the growing budget deficit. This is through new customs increases that impose on the importers.

The board has condemned the increasing pressure on the industrial sector in financing the budget deficit without considering the imported commodities, and its role in raising the state’s incomes via imposing new customs rises.

The Minister of Industry, for his part, has stated that the ministry is pondering the new customs rise on a number of commodities; referring that the main target behind these increases came on account of protecting the domestic industry, not by the attempts of maximizing the state’s incomes in order to reduce the deficit.