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Egypt begins immediate release of food commodities and medicines

Egyptian Prime Minister Mostafa Madbouly followed up on the movement of goods and freights in ports and the Advance Cargo Information (ACI) system, during a meeting on Monday with Finance Minister Mohamed Maait, Assistant Governor of the Central Bank of Egypt, Mohamed Abu-Moussa, and other officials.

Madbouly said: “In light of the increase in US dollar resources in recent days, whether from the Ras al-Hikma deal or others, there are presidential directives to speed up the immediate release of goods at various ports, so long as coordination is made with the Central Bank of Egypt and the relevant ministries to speed up their release, especially for food commodities, medicines, feed, and production requirements.”

This will help with the balance and decline of prices, he explained.

The procedures must be completed as quickly as possible and these goods must be released soon, he stressed, assuring that, “We will follow this matter throughout the day, and in various ports.”

During the meeting, the position of the goods present in the ports was reviewed, according to an analysis of the numbers and classifications of the goods registered with the ACI system.

An agreement was reached between officials of the CBE and the Ministries of Finance, Trade and Industry on the speedy completion of procedures and the immediate release of the goods.

At the same time, the government decision to exempt about 12 goods from duties for a period of six months expires on April 10.

The decision includes exempting imports of some goods subject to terms from customs tax, including foodstuffs, medicines, and fodder.

An informed government source said that the government, represented by the Ministries of Industry and Finance, and other concerned parties, is considering extending the decision for another period.

Edited translation from Al-Masry Al-Youm

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