Official source in Ministry of Investment said that the ministry has adopted a plan to reduce the prices

 

of food at consumer cooperative, also this plan includes  the ministries of 'finance and 'Supply', to start

 

implementation on June 25 and will continue for a month.

 

 

 

Yahiya Hamid, Minister of Investment, held a meeting attended by representatives from the Ministries of

 

Finance and Supply, in addition to Hassan Kamel, Chairman of the Holding Company for Food

 

Industries, and the owner of consumer cooperative companies, two days ago,, to determine the lists of

 

goods, and the possibility of continuing for a month not 10 days as it was before.

 

 

Said Amman Salem, head of the Egyptian Company for wholesale, one of the holding companies of

 

food, decided to return offers again to include more than 22 items, and reduces the prices at  consumer

 

cooperatives in all its branches, and differences of prices shall be borne by the Ministry of Finance, to

 

meet the needs of citizens in Ramadan.

 

 

 

about the reasons for extending offers to a month, not 10 days as is known as before, he said in a

 

statement that the offers will start in branches of the company amounting to 910 branches nationwide

 

wholesale and retail on 25 June, to extend from 10 days to 15 days or a whole month, on the occasion of

 

Ramadan.

 

 

He explained that the Ministry of Supply has not sent yet any officially publications of goods required to

 

reduce their prices,and duration of offers, but talks about this matter between the three ministries of

 

investment, finance and Supply, especially , the Ministry had used to send the lists before Stopping offers

 

of the months prior to the month of May.

 

 

Salem said  that it is expected to reduce the price of sugar in some consumer cooperatives from 5

 

pounds to 4.5 pounds and 4.5 pounds to 4 pounds, these offers have returned since 25^th of May, till

 

current 5^th of June.

 

 

He stressed that the consumer cooperative and governmental trade companies have the liquidity

 

required since the offers of the previous months,which should be paid by  ministry of finance, especially

 

with the approaching on June 30, which is the end of the financial year and the closure of budgets.

 

 

Salem noted that the Egyptian Company for wholesale alone has 2 million pounds, the price difference,

 

and the ministry of finance will demand this amount on June 30, Which will begin in the inventory of the

 

company branches, during the application of the preparations plan for the events.

 

 

He said that the company is prepared for the expected events on June 30 With the continuation of its

 

work. It contracted with security companies To increase security guards at all branches, and prevented

 

off days to increase security guards so that everyone Available at one time.

 

He added that the offers is expected to be extended to 25 July, all sections will be open during June 30,

 

but if there were incidents of violence and acts of sabotage against the consumer cooperatives, they

 

would be closed immediately.

 

 

The head of the Egyptian Company for wholesale mentioned that Consumer cooperatives in the areas

 

surrounding the Tahrir Square and Etahadia Palace will close its doors. They will be excluded from the

 

rest of the branches, because they are near to places of gatherings and demonstrations.

 

 

He pointed out that there is a rise in the prices of some goods within the consumer cooperatives

 

including poultry Between 15 and 20%, and some types of oils from 5 to 10% and frozen meat by 10%.

 

He Confirmed that Wholesale companies and cooperatives did not witness any high demand on

 

Storage of goods by citizens, fearing the events of June 30 ».