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Thursday, 1 March 2018

Cabinet grants final approval to Pharma Regulator Act, sets cotton supply prices

LEGISLATION WATCH- Pharma Regulator Act gets final sign-off from Cabinet: The Ismail Cabinet approved yesterday the Pharma Regulator Act after incorporating some amendments since granting it a preliminary nod earlier this month, according to an official statement. The bill would establish three separate bodies to regulate the pharma sector:

  • The Supreme Council for Medicine and Medical Technology to set and implement overarching policies for the sector;
  • The Egyptian Medical Technology Authority to oversee the procurement of pharmaceutical products and medical equipment;
  • The Egyptian Medical Supervisory Authority to oversee the availability and supply of medicine and raw materials.

Cabinet will now send the legislation to the House of Representatives for a vote.

Also yesterday, Cabinet agreed to:

  • Extend the mandate of a law allowing those who have had state land seized from them as part of the crackdown on illegally occupied land to buy back the property.
  • Sign off on the new prices at which the government will purchase local cotton. Long-staple cotton will be priced at EGP 2,700 per qintar, while short- and medium-staple cotton will now be priced at EGP 2,500.
  • Approve amendments to the criminal code that would impose life prison sentences on individuals who are found guilty of handling unlicensed explosive materials.

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