{"id":587088,"date":"2023-05-22T00:00:00","date_gmt":"2023-05-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/22\/last-nights-talk-shows-gold-prices-resume-their-rise-and-building-reconciliation-is-back-on-the-agenda\/"},"modified":"2023-05-22T00:00:00","modified_gmt":"2023-05-22T00:00:00","slug":"last-nights-talk-shows-gold-prices-resume-their-rise-and-building-reconciliation-is-back-on-the-agenda","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/22\/last-nights-talk-shows-gold-prices-resume-their-rise-and-building-reconciliation-is-back-on-the-agenda\/","title":{"rendered":"Last Night\u2019s Talk Shows: Gold prices resume their rise and building reconciliation is back on the agenda"},"content":{"rendered":"

A busy night on the airwaves <\/span>brought us more coverage of the gold market and the <\/span>government\u2019s attempts to rein in soaring prices, as well as the rebooted building reconciliation law, which may be returning to the legislative agenda in the coming weeks.<\/span><\/p>\n

Gold prices are back on the rise:<\/span> Local gold price<\/span>s jumped 9%<\/span> over the weekend despite <\/span>measures introduced last week aimed at tamping down on soaring prices. Prices had slipped last week on the back of <\/span>the decision<\/a><\/span> to allow expats to bring the precious metal into the country without paying customs duties <\/span><\/p>\n

What the government is saying:<\/span>\"The main reason for that jump is that Egyptians still have a <\/span>lot of liquid assets at hand \u2026 there is demand,\u201d Nagy Farag, an advisor to the Supply Ministry, told Kelma Akhira\u2019s Lamees El Hadidi (<\/span>watch, runtime: 3:55<\/a><\/span>). The decision is yet to impact the market because not many expats have entered the country, he said, adding that he is confident that the weekend\u2019s rally is only a temporary move.<\/span><\/p>\n

What\u2019s happening with building reconciliation? <\/span>Prime Minister Moustafa Madbouly <\/span>yesterday <\/span>held a meeting<\/a><\/span> on the building reconciliation bill, marking \u201cthe beginning of the end of the reconciliation issue in Egypt,\u201d Ala Mas\u2019ouleety\u2019s Ahmed Moussa said (<\/span>watch, runtime: 5:11<\/a><\/span>). In 2-3 weeks Justice Minister Omar Marwan will present the first draft of the new bill to the cabinet. <\/span><\/p>\n

REMEMBER-<\/span> The original 2019 legislation gave owners of illegal buildings the option to pay <\/span>reconciliation fees to allow them to go legit. The government has been rethinking the bill after authorities <\/span>responded to only a fraction<\/a><\/span> of the <\/span>2.8 mn reconciliation requests<\/a><\/span>, while a lack of unified rules left various governorates implementing the rules differently. The new bill is expected to <\/span>make it easier for people to pay up<\/a><\/span> and establish a set of unified rules for collecting the fees. The House Housing Committee <\/span>approved the new bill last year<\/a><\/span> but nothing has been heard until now.<\/span><\/p>\n

Also getting attention on the airwaves:<\/span><\/p>\n