Differing of traders ' point of views after raising the deposit limit to 250 thousand dollars a month

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Sunday - 7 February 2016 - 10:57 AM

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views of Cairo Chamber's members and importers  varied  after the central bank decision to raise the limit of  dollar deposit from 50 to 250 thousand dollars a month for basic commodities such as basic ration of food commodities, machinery , production equipment , spare parts , intermediary goods , production supplies , raw materials, medicines, vaccines and chemicals.

 

Engineer Ibrahim AlAraby , Vice Chairman of Egyptian General Federation of  Chambers of Commerce and Chairman of the Cairo Chamber of Commerce believes that the current  decision is in itself a "breakthrough"  because the  basic commodities will be available, and He is convinced that officials of Central Bank will issue decisions in the next stage to be in favor of the market and the citizens. "

 

Agree with the previous opinion Sayed El Nawawy, board member of Cairo Chamber and one of the leading importers in the meat sector, explaining that raising the deposit limit is a breakthrough for stagnant cargoes in ports, which incur heavy losses during the previous period.

 

On the other hand, Ali Shoukry Vice Chairman of Cairo Chamber of Commerce considers this decision is not useful for Commercial Street, beside the fact that raising the limit of dollar deposit o does not cover all goods and this in itself is an obstacle to the rest of other goods.

 

Shoukry demanded officials of the central bank and the Ministry of Industry and Foreign Trade and all stakeholders for discussing the instructions and decisions with the Chambers of Commerce, which is the official representative of the commercial market to set things right and Do not suffer such a simple citizen.

 

And consistent with the Shoukry's opinion Ahmad El Zeiny , Cairo Chamber's board member and Chief of the General Division of building materials at the General Federation of Chambers of Commerce and Ahmed Shiha ,Chief of  importers Division at Cairo Chamber who confirmed that the decision led to rising the dollar price in the black market .