Cabinet approves amendments to antitrust laws

The cabinet has approved amendments to the antitrust law, granting the government the right to set prices of certain basic commodities for limited periods of time.

“The amendments allow the government to implement fair market policies,” said Trade and Industry Minister Mahmoud Eissa.

The amendments punish traders who hoard commodities in order to sell them for higher prices. Violators are to receive fines between LE20,000 and LE500,000, but are absolved of the penalty if they turn themselves in.

Translated from the Arabic Edition

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