Egypt to Mandate Displaying Price Tags for Commodities

Egypt to Mandate Displaying Price Tags for Commodities

PM Madbouly issues executive regulations of National Press Authority - Daily News Egypt
PM Madbouly | Photo Credit: Daily News Egypt

Prime Minister Mostafa Madbouly announced on 12 December that all retailers will be obligated to have price tags on their goods, and will be subject to periodic inspection tours to ensure enforcement.

This decision is the latest of many measures taken by the government to regulate and observe local prices under inflation.

In a meeting with Minister of Supply and Internal Trade Ali Moselhi, Madbouly followed up on potential price variations and “unjustified” price hikes.

Madbouly insisted that “strict procedures” will be implemented against those who do not comply with these measures, as the government continues to ensure commodities are tagged with “befitting” prices. This includes a warning to vendors against stocking up on commodities; if this instruction is not followed, retailers and shops may be subject to fines or prosecution.

This came when the government declared certain foods, namely rice, as a strategic commodity back in November. Despite the government capping prices, Madbouly noted that there were still many stockpiling, and said violators will be dealt with “decisively.”

“We will not accept that traders lose [financially],” he added, “but we will not allow some to exaggerate their gains at the expense of citizens.”

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With a heart for radio and an appetite for culture, Mona is a writer and illustrator based in Cairo. At the Erasmus University Rotterdam, she obtained a BSc and MA in Media, Culture, and Society, while actively writing for the faculty magazine. After graduating, Mona was an academic advisor at the American University in Cairo, as well as Managing Director of a small, campus-based advertising firm. Gears shifting, her knack for cultural research took over - enter: Egyptian Streets. Mona’s focus is tapered to issues of identity politics, culture, and social architecture.

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