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Sunday, 18 June 2017

Cabinet approves minor amendments to Consumer Protection Act, Nile traffic bill, and others during weekly meeting

The Ismail government signed off on minor amendments to the Consumer Protection Act during its weekly meeting on Thursday, according to a statement. It appears the government is approving amendments to the act piecemeal, after having signed off on other revisions earlier this month. Certain amendments, including provisions that would allow the government to set price controls as part of a bid to curb inflation, have stirred tension in the business community. Planning Minister Hala El Said also presented her ministry’s report on the country’s main economic indicators in 3Q2016/17. Key decisions taken during the meeting include:

  • Approving a EUR 100 mn loan from the French Development Agency (AFD) for the EUR 360 mn Alexandria tram project;
  • Signing off on a USD 85 mn funding agreement with the Arab Fund for Economic and Social Development for a 50 MW solar power plant project in Kom Ombo;
  • Approving amendments to a draft bill on regulating river traffic and commercial transport on the Nile that will see a single agency replace all existing agencies within two years of the law’s issuance. The ministers had previously signed off on the draft bill earlier this month;
  • Signing off on unspecified decisions taken by the Ministerial Committee on Investment Disputes;
  • Approving amendments to the fishing and aquatic life law to impose a prison sentence of three to seven years and fines of EGP 1-10 mn for individuals who damage lake ecosystems.

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