The meeting was also attended by Ayman Ismail, Chairman of
the Holding Company for Food Industries, Hossam El-Garahy, Assistant Minister
for Oversight Affairs, Ahmed Essam, Assistant Minister for Political
Communication and Parliamentary Affairs, and Sara El-Azzazy, Head of the Central
Administration for the Minister’s Office Affairs.
Dr. Farouk affirmed that the state attaches great importance
to maintaining market discipline. He stressed that ongoing coordination between
the Ministry of Supply, the private sector, and the Federation of Egyptian
Chambers of Commerce is a key pillar in achieving balance and stability in the local
market. He emphasized that the ministry will not allow any practices that harm
citizens’ rights or affect the availability of goods.
The minister added that the close cooperation between the
Ministry of Supply and Internal Trade and the private sector, represented by
the Federation of Egyptian Chambers of Commerce, the Federation of Egyptian
Industries, and major suppliers and producers, has been and remains one of the
main factors behind the success of price reduction initiatives and efforts to
stabilize the markets.
He explained that this collaboration has led to an
integration of government and private sector efforts across all stages of the
domestic trade system, from production to distribution. This has enabled the
ministry to launch and implement a series of successful initiatives, including
“One-Day Markets” and seasonal and permanent exhibitions such as “Ahlan
Ramadan” and “Ahlan Madaris.” These initiatives have contributed to providing
basic commodities at affordable prices and high quality. They also promote fair
competition among producers and traders in a way that primarily benefits
Egyptian consumers.
Dr. Farouk also stressed the importance of all producers,
importers, and traders adhering to consumer protection regulations and
enhancing transparency in the market. He directed that field inspection
campaigns be intensified to ensure compliance with regulations and to monitor
the movement of goods and pricing across various governorates.
The minister concluded the meeting by reaffirming that the
state operates in a spirit of partnership with the private sector to achieve
food security for Egyptian citizens. He noted that the ministry continues to
implement flexible policies that balance market regulation with encouraging
local production.
For his part, El-Wakil, Chairman of the Federation of
Egyptian Chambers of Commerce, expressed the Federation’s full support for the
Ministry of Supply’s efforts to regulate markets and ease the burden on
citizens. He pointed out that the private sector is fully committed to
cooperating with state agencies to ensure the availability of goods in large
quantities, with high quality and fair prices.
Several major retail chains, including Saudi Market, Hyper
One, and Fathalla Market, confirmed that they have already implemented tangible
price reductions for many essential goods. These efforts support the Ministry
of Supply and Internal Trade’s initiatives to increase product availability and
enhance the supply of food commodities. They also aim to stimulate buying and
selling activity, boost competitiveness for the benefit of Egyptian consumers,
and maintain price stability in the market.