Back to the complete issue
Monday, 10 July 2017

Supply Ministry raises subsidized bread production cost

Supply Ministry raises subsidized bread production cost: Supply Minister Ali El Moselhy agreed yesterday with the Federation of Egyptian Chambers of Commerce’s bakeries division to raise the cost of subsidized bread production to EGP 180 per each 100 kg sack of flour, up from EGP 160, Al Masry Al Youm reports. Each sack of flour yields 1,250 loaves. The new figure covers the increase in diesel prices, which the Supply Ministry will cover. El Moselhy said he would coordinated with the Finance Ministry to bring the new prices into effect at the beginning of August. Separately, the subsidized commodity vendors’ union issued a statement claiming that bakeries are continuing to take advantage of loopholes in the bread point system, resulting in EGP 7 bn in losses to the state, Al Mal reports.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594). Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2016 Enterprise Ventures LLC.