The Ismail cabinet formed yesterday a committee to look at how to mitigate the impact of devaluation on the pharma industry without resorting to price hikes, Al Borsa reports. Manufacturers have reached out to the government to either be allowed to exchange FX under the old official rate or be allowed to raise prices of meds.The Prime Minister also tasked a committee of ministers to set up a database of citizens who are eligible to receive basic goods under the subsidies system as part of a wider policy to cut the fat (so to speak) from the subsidies bill, AMAY reports. The committee will also be drawing up metrics to assess the progress of this phasing out of supply subsidies beneficiaries. Other decisions taken by the cabinet include:

• Designating private land required for construction of Cairo Metro Line 3 under eminent domain;
• Approved signing an MoU with the Advanced Energy Research and Technology Center to study developing oil shale concessions by Ganoub El Wadi Petroleum Holding Company;
• Establishing an education fund to finance, develop and manage education project.