{"id":584131,"date":"2023-03-27T00:00:00","date_gmt":"2023-03-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/27\/lawmakers-call-for-price-controls-on-building-materials-amid-soaring-prices\/"},"modified":"2023-03-27T00:00:00","modified_gmt":"2023-03-27T00:00:00","slug":"lawmakers-call-for-price-controls-on-building-materials-amid-soaring-prices","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/03\/27\/lawmakers-call-for-price-controls-on-building-materials-amid-soaring-prices\/","title":{"rendered":"Lawmakers call for price controls on building materials amid soaring prices"},"content":{"rendered":"

<\/span>Calls for price controls on building materials: <\/span>Lawmakers have called on the <\/span>government to introduce price controls on building materials amid a recent surge in prices. The cost of reinforced steel was selling at EGP 42k per ton, u<\/span>p 50% <\/span>during March alone, while cement prices have hit a record EGP 4k per ton. \u201cThis astronomical rise has negatively impacted small contractors, with many of them being forced to close doors and lay off workers,\u201d House Budget Committee member Samira El Gazzar said. \u201cThe government can intervene by setting obligatory prices for reinforced steel and cement and exercising tight control on the market,\u201d he said. <\/span><\/p>\n

No more anti-dumping duties? <\/span>Ihab Mansour, deputy chair of the House Manpower Committee, blamed the inflation on price-gouging merchants, and called on the government to reconsider the anti-dumping duties it enforces on imported steel and cement in efforts to stabilize prices. <\/span><\/p>\n

What\u2019s next: <\/span>The Senate will next month open a debate over the steel and cement and building materials markets. \u201cThe construction industry contributed 18.7% to GDP and should not be left a prey to monopolistic and greedy practices,\u201d Senator Yasser El Hodeibi said. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Reinforced steel prices have surged 50% in March<\/p>\n","protected":false},"author":1,"featured_media":584132,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7206],"tags":[130,104,72,182],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-584131","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","tag-construction","tag-economy","tag-enterpriseam","tag-inflation","wpautop","entry"],"acf":{"mongo_id":"7a44739a-756f-4c1a-8c8b-d9102456f123","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/3\/470.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Lawmakers in Egypt call for price controls on building materials amid soaring prices","related_issue":[584124],"teaser":"Reinforced steel prices have surged 50% in March","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/3\/.f6cf217b-4763-4d9f-b4f9-e7689018f500.mp3"},"yoast_head":"\nLawmakers call for price controls on building materials amid soaring prices - 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A \u201cfair\u201d price for steel would be between EGP 15k-17k per tonne rather than the current EGP 21k\/tonne, head of the Cairo Chamber of Commerce\u2019s Building Materials Division Ahmed El Zeiny told Ala Mas\u2019ouleety\u2019s Ahmed Moussa (watch, runtime: 8:06). 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Unnamed government officials told Reuters this amounted to an increase of EGP\u2026","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":593653,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-reduces-natural-gas-prices-for-three-types-of-factories\/","url_meta":{"origin":584131,"position":5},"title":"Egypt reduces natural gas prices for three types of factories","author":"enterpriseam admin","date":"7 October 2019","format":false,"excerpt":"Gov\u2019t announces long-awaited decision to lower natgas prices for industry, but only for a few sectors: A ministerial committee lowered on Thursday the price of natural gas for the cement, metallurgy, and ceramics industries after repeated calls by manufacturers, cabinet said in a statement. 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