Lack of Control Is The Cause Of Price Rise In Ramadan, Says MB MP
Lack of Control Is The Cause Of Price Rise In Ramadan, Says MB MP
Friday, September 19,2008 22:06

Member of Muslim Brotherhood Parliamentary Bloc and the Economy Committee in the parliament, Taimur Abdul Ghany expressed his deep dismay at the recurrent increases in the price of foodstuffs, especially during the holy month of Ramadan, despite assurances from the government to curb food prices.

Abdul Ghany stated to Ikhwanweb that price climbing is not merely an indication of merchants’ greed, but it also shows the weak performance of the government control over markets and its frail role. He said that this weakness led to the daring of blackmail markets to control prices with no fear of accountability or governmental punishment.

Abdul Ghany asked the government to be dependable, to intervene rapidly and firmly to curb prices in the markets and not to be just observer and carper.

The Consumer Protection Authority (CPA) uncovered that most of foodstuffs prices increased by varying percentages during the first half of Ramadan and the study conducted by several consumer protection associations in collaboration with the CPA found that the prices of rice, macaroni, flour, sugar, oil, vegetable ghee, eggs, white cheese, meat, sauce and beans increased, while the prices of milk, chicken, fish and lentils remained stable.

The study showed that the price of rice increased by 7-15 percent to between LE 4.30 and LE 5.75 per kilogram, while prices of most types of macaroni increased by a large percentage after ending the special Ramadan discounts in some stores.

The price of flour increased by 4-11 percent to between LE 4.50 and LE 5.50 per kg, while sugar prices increased by 5-10 percent to between LE 2.95 and LE 3.95.

The price of cooking oil ranged between LE 8.75-13.25 per liter and the vegetable ghee between LE 18.4-19.75 per container.