{"id":604620,"date":"2018-12-09T04:30:00","date_gmt":"2018-12-09T04:30:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/09\/egypt-parliament-to-discuss-legislative-amendments-to-clamp-down-on-high-prices\/"},"modified":"2018-12-09T04:30:00","modified_gmt":"2018-12-09T04:30:00","slug":"egypt-parliament-to-discuss-legislative-amendments-to-clamp-down-on-high-prices","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/12\/09\/egypt-parliament-to-discuss-legislative-amendments-to-clamp-down-on-high-prices\/","title":{"rendered":"Egypt parliament to discuss legislative amendments to clamp down on high prices"},"content":{"rendered":"

<\/a> LEGISLATION WATCH- House puts high prices and \u201cmonopolistic practices\u201d in the crosshairs as state launches crackdown on price gougers:<\/b> The House of Representatives is scheduled to discuss today proposed amendments to the Supply Affairs Law and the Egyptian Competition Act in a bid to curb the rising price of basic goods and commodities, Ahram Online reports<\/a>. If passed, the amendments would grant sharper teeth to Supply Ministry, Consumer Protection Authority, and Interior Ministry inspectors \u201cto help them discipline the local market\u201d and crack down on what they see as high prices. The changes would also increase the fines imposed on traders found guilty of \u201chiding\u201d strategic goods to drive up prices. The House legislative and economics committees, which have completed their review of the proposed amendments, said these changes are necessary to regulate prices after the reduction of subsidies and the EGP float led to some traders \u201cexploiting\u201d these reforms to \u201cmanipulate prices and double their profit margins.\u201d<\/p>\n

El Sisi, intelligence boss and top anti-corruption watchdog are backing the drive: <\/b>The debate in the House comes after President Abdel Fattah El Sisi met with the head of the General Intelligence Directorate, the chairman of the Administrative Control Authority, Prime Minister Moustafa Madbouly and a host of ministers to discuss ensuring commodities remain available at affordable prices as well as \u201cmeasures for market monitoring and consumer protection.\u201d Read the full statement from Ittihadiya here (pdf)<\/a>.<\/p>\n

Background:<\/b> Inflation has accelerated for two consecutive months, with annual headline inflation rising in October to 17.5%<\/a>, largely on the back of higher vegetable prices, despite the government\u2019s efforts to ease price increases. President Abdel Fattah El Sisi has regularly directed his government<\/a> to ensure basic goods are available at \u201creasonable prices\u201d on the market. The Consumer Protection Act<\/a>, which El Sisi had ratified in September<\/a>, also sets a legal framework by which the government can impose price controls.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- House puts high prices and \u201cmonopolistic practices\u201d in the crosshairs as state launches crackdown on price gougers: The House of Representatives is scheduled to discuss today proposed amendments to the Supply Affairs Law and the Egyptian Competition Act in a bid to curb the rising price of basic goods and commodities, Ahram Online […]<\/p>\n","protected":false},"author":1,"featured_media":604621,"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":[8572],"tags":[7400,72,182,180,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-604620","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-competition-act","tag-enterpriseam","tag-inflation","tag-legislation","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"723432a3-d40a-4b58-87dd-3938106e8e6d","order":"0","is_powered_by":true,"section_story_id":"ab0b5636-53d8-4206-86ba-aa1f71291352","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/12\/3860.jpg","photo_position":"above","related_issue":[604602],"teaser":"","voice_url":""},"yoast_head":"\nEgypt parliament to discuss legislative amendments to clamp down on high prices - 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The amendments\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":626475,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/03\/parliament-signs-off-on-customs-act-amendments\/","url_meta":{"origin":604620,"position":1},"title":"Parliament signs off on Customs Act amendments","author":"enterpriseam admin","date":"3 July 2018","format":false,"excerpt":"LEGISLATION WATCH- Parliament signs off on amendments to Customs Act: The House of Representatives approved yesterday amendments to the Customs Act, El Watan reports. The amendments would slash customs duties on capital goods and expand temporary exemptions for production inputs and packaging equipment, in addition to introducing provisions that aim\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574878,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/24\/private-sector-role-in-universal-health-coverage-to-be-clarified-in-legislative-amendments\/","url_meta":{"origin":604620,"position":2},"title":"Private sector role in universal health coverage to be clarified in legislative amendments","author":"enterpriseam admin","date":"24 September 2020","format":false,"excerpt":"LEGISLATION WATCH- The private sector\u2019s role in the new universal healthcare system will be clarified in a new bill: The role of the private sector in the Sisi administration\u2019s new universal healthcare system will be clarified in legislative amendments to be submitted to the cabinet by the Health Ministry, head\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627190,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/25\/major-amendments-to-the-tax-code-coming-during-next-legislative-term\/","url_meta":{"origin":604620,"position":3},"title":"Major amendments to the tax code coming during next legislative term","author":"enterpriseam admin","date":"25 July 2018","format":false,"excerpt":"EXCLUSIVE- Major amendments to the tax code coming during next legislative term: The Finance Ministry plans to introduce a package of new legislation when the House of Representatives reconvenes from its summer recess, Finance Minister Mohamed Maait told Enterprise. Topping the list of laws are amendments to the tax code\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":568556,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/15\/snackfood-industry-want-vat-act-amendments-scrapped\/","url_meta":{"origin":604620,"position":4},"title":"Snackfood industry want VAT act amendments scrapped","author":"enterpriseam admin","date":"15 November 2020","format":false,"excerpt":"LEGISLATION WATCH- Snackfood industry petitions House not to impose full VAT on sweets: Snackfood makers are lobbying the House Planning and Budgeting Committee to leave VAT on pastries and baked goods unchanged in any upcoming amendments to the VAT Act, CEO of snack food giant Edita Hani Berzi told the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/148.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628467,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/06\/parliament-committees-to-discuss-leasing-and-factoring-act-amendments-to-economic-courts-law-today\/","url_meta":{"origin":604620,"position":5},"title":"Parliament committees to discuss Leasing and Factoring Act, amendments to Economic Courts Law today","author":"enterpriseam admin","date":"6 May 2018","format":false,"excerpt":"LEGISLATION WATCH- House committees to discuss Leasing and Factoring Act, amendments to Economic Courts Act today: The House of Representatives\u2019 Economic Committee is discussing today the proposed Leasing and Factoring Act, according to Ahram Gate. The legislation, which the Ismail Cabinet approved last August, sets up a regulatory framework for\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/604620","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=604620"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/604620\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/604602"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/604621"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=604620"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=604620"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=604620"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=604620"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=604620"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}