{"id":549137,"date":"2022-09-05T03:30:21","date_gmt":"2022-09-05T03:30:21","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/commodities-customs-and-currency-were-discussed-on-the-airwaves-last-night\/"},"modified":"2022-09-05T03:30:21","modified_gmt":"2022-09-05T03:30:21","slug":"commodities-customs-and-currency-were-discussed-on-the-airwaves-last-night","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/05\/commodities-customs-and-currency-were-discussed-on-the-airwaves-last-night\/","title":{"rendered":"Commodities, customs and currency were discussed on the airwaves last night"},"content":{"rendered":"

There was no specific topic dominating airwaves yesterday<\/strong>, with talking heads discussing the commodities front, a much-needed relief for importers and others.<\/p>\n

Supply Minister Ali El Moselhy was on Al Kahera W El Nas\u2019s Hadith El Qahera delivering <\/strong>a mix or reassurance and alarmism:<\/strong> \u201cThis is the worst global crisis since [I believe] the Second World War,\u201d the minister said while moving to calm fears about food insecurity caused by the conflict. The country has enough wheat to last more than six months, partly due to the government securing more than 4 mn tons from local farmers, he said (watch, runtime: 8:12<\/a> | 5:43<\/a>).<\/p>\n

Amended custom tariffs will apply to both production inputs stuck at ports <\/strong>and others set to be imported<\/strong>, Customs Authority spokesperson Mohamed Ibrahim said on Salet El Tahrir (watch, runtime: 8:08<\/a>). Businesses can also send equipment for maintenance abroad and have it shipped back without incurring any custom charges, on the condition that they declare that the goods are being exported temporarily for maintenance, he said. The decisions received praise from Mohamed El Masry, vice chairman of Federation of Egyptian Chambers of Commerce (FEDCOC), who told Salet El Tahrir (watch, runtime: 9:58<\/a>) that it would help resolve the crisis at ports.<\/p>\n

Another way the government could get more foreign currency into the country:<\/strong> Convincing expats to send more remittances in exchange for customs breaks on vehicles, suggested Alaa Selim, the secretary-general of the General Union for Egyptians Abroad in Kuwait. In an interview with late night queen Lamees El Hadidy on Kelma Akhira, Selim said that Egyptians abroad could transfer USD 50-100k in remittances in return for a customs break on imported cars (watch, runtime: 3:01<\/a>). Purchasing vehicles abroad and shipping them to Egypt has become a well-known practice by expats (especially in the Gulf) because of the high prices in the local market.<\/p>\n

Also on the airwaves last night:<\/strong><\/p>\n