Liberalization of Wheat Flour Prices In Port Said Soon

The committee of wheat pricing, formed by the Ministry of Supply and Internal Trade, has finalized its studies concerning the executive plan set for liberalization of wheat flour prices in collaboration with all concerned bodies.

The committees of wheat flour and bread continue their meetings in order to set an integrated executive plan about liberalization of wheat flour prices. Such move came as part of the Cabinet’s strategy to improve the quality of bread and prevent waste of public money. The plan will be first applied in Port Said City for two months before implementing such plan all over Egypt.

The initial estimates showed that the liberalization of wheat flour prices will save for the country billions of pounds which were set in vain because some merchants were selling subsidized wheat on the black market. In addition, the new policy will increase the bread supply, increase competency among bakeries and improve the quality of bread.

The Minister of Supply and Internal Trade, Eng. Abu-Zaid Mohamed Abu-Zaid said the liberalization of wheat flour prices will go along with a plan of increasing the number of public and private bakeries. The success of the new policy necessitates cooperation between municipalities and the sector of bakeries, he confirmed.

The tripartite committee of wheat, flour and bread will meet every three months in order to set the prices according to the market. Subsidizing bread is one of the Cabinet’s top priorities along with improving the quality of it, Abu-Zaid added.