Smiley Face leaves Consumer Protection Agency
MOVES- So long, Smiley Face: Supply Minister Ali El Moselhy appointed yesterday Rady Abdel Moty Ali as the new head of the Consumer Protection Agency (CPA), Youm7 reports. Ali replaces Atef “Smiley Face” Yakoub, whose term leading the agency has expired. El Moselhy also formed a new board of directors with representatives from the Council of State (Maglis El Dawla), Trade and Industry Ministry, and Federation of Egyptian Industries.
Yakoub leaves with the mother of all unwanted parting gifts, the Consumer Protection Act, which he defended in a workshop on Monday with the Federation of Egyptian Industries. He claims that the law — the most Nasserist piece of economic legislation we’ve seen since the reform agenda came out — will help bolster Egypt’s exports by enforcing strict quality control standards under Article 3. What he doesn’t say is that the law sets condition for government-enforced price controls, sets stringent recall guidelines, and grants the CPA the right to censor ads. Yakoub said that President Abdel Fattah El Sisi is expected to ratify the law by July.