Did the Ismail government really try to sneak in provisions on caps in the new Investment Law? The Egyptian Businessmen’s Association (EBA) is raising a stink about a number of the law’s features including provisions which appear to give the government leeway to enforce price caps when necessary, Al Borsa reports. According to EBA head Ali Eissa, an article of the law guarantees the freedom of companies to set prices with the exception of goods that are deemed critical to national security. The EBA is requesting that the Investment Ministry clarify this point. Other features that the EBA is objecting include restrictions on foreign labor unless absolutely necessary. Eissa goes on to state that the law doesn’t go far enough and must include an overhaul of existing legislation that hinders the investment climate.

Price caps have the backing of the Egyptian Union of Investors Associations (EUIA), which is channeling the ghost of Abdel Nasser this morning. Free markets do not mean the government shouldn’t step in to regulate if it helps the consumer, the EUIA reportedly said in a report on the matter, according to Al Mal. Wait, huh? Sadly, we were unable to reach the EUIA to explain this oxymoron for us. The Federation of Egyptian Industries (FEI) and the Federation of Egyptian Chambers of Commerce have both condemned any move by the government to set caps on profit margins.