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Cabinet urges FEDCOC to play positive role in stabilizing economy

Cabinet urges FEDCOC to play positive role in stabilizing economy

Cairo: The Cabinet on Thursday 11/02/2016 called on the Federation of Egyptian Chambers of Commerce (FEDCOC) to play an effective role in maintaining the stability of Egypt’s economy.

The appeal was made by the Cabinet's economic group in response to criticism made by head of the FEDCOC Ahmed Al-Wakeel of decisions taken by the group over the past few months.

In a report, received by Prime Minister Sherif Ismail on Thursday, the economic group defended its decisions taken regarding blocking the entry of large quantities of goods over violating safety standards.

The Central Bank of Egypt (CBE) has adopted a package of measures to control the situation, including increasing the customs tariff on some end-user products, the report said.

Source: State Information Service

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