Egypt began a nationwide price-cut initiative on Tuesday, with the Ministry of Supply and Internal Trade slashing the cost of food and household staples across public-sector consumer complexes as part of efforts to ease the burden on citizens. Supply Minister Sherif Farouk said in a statement that the first phase directs the Holding Company for Food Industries (HCFI) to reduce prices of high-demand essentials — including meat, poultry, sugar, rice, cooking oils, tea, pasta and tomato paste — by up to 18 per cent. Prices of 15 key items have already been lowered, he added. A further basket of products — such as cleaning supplies, halawa, jams and tahini, baked goods, spices, juices and personal-care items — will see a 5 per cent cut. Minister Farouk noted that prices of sugar, cooking oil, poultry and eggs are already lower than the same period last year thanks to increased pumping of goods into state outlets and broader commercial partnerships. The ministry plans to expand the initiative to more commodities in the coming months. The programme is being rolled out in cooperation with the private sector, represented by the Federation of Egyptian Chambers of Commerce, the Federation of Egyptian Industries, the Chamber of Food Industries, major retail chains, and national producers and suppliers to maximise reach across governorates. The initiative aims to boost supply and enhance market availability in line with free-market mechanisms, the minister said, adding that the state is working with producers and retailers to reduce profit margins by shortening distribution chains and easing logistics. Attribution: Amwal Al Ghad English Subediting: Y.Yasser
