Egypt Government to Set 'Fair' Prices to Confront Market Manipulation

Egyptian traditional loaves of bread are seen on shelves from the oven at a bakery in Cairo’s southeastern Mokattam district in Egypt, March 16, 2022. (Reuters)
Egyptian traditional loaves of bread are seen on shelves from the oven at a bakery in Cairo’s southeastern Mokattam district in Egypt, March 16, 2022. (Reuters)
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Egypt Government to Set 'Fair' Prices to Confront Market Manipulation

Egyptian traditional loaves of bread are seen on shelves from the oven at a bakery in Cairo’s southeastern Mokattam district in Egypt, March 16, 2022. (Reuters)
Egyptian traditional loaves of bread are seen on shelves from the oven at a bakery in Cairo’s southeastern Mokattam district in Egypt, March 16, 2022. (Reuters)

The Egyptian government announced on Monday it intends to “publish a list of fair prices for basic commodities,” in order to prevent the manipulation of prices by merchants.

The announcement comes less than two weeks after it decided to temporarily set a fixed price for unsubsidized bread.

During a meeting on Monday of a special ministerial committee entrusted with finding solutions to confront the impact of the current global crisis on strategic commodities, Prime Minister Mostafa Madbouly stressed “the need for permanent coordination with the Federation of Chambers of Commerce to announce a list of fair prices for basic commodities.”

The committee includes the ministers of Awqaf (Islamic Affairs), Supply and Internal Trade, Finance, Local Development, Interior, Social Solidarity, Agriculture and Trade and Industry, as well as representatives of the National Service Projects Organization (NSPO), the Information and Decision Support Center, and the Consumer Protection Agency.

Madbouly pointed to “complaints from citizens” over some supermarkets and stores highly increasing the prices of some goods.

He noted in this regard that the fair price list would contribute to limiting such practices, adding that the Consumer Protection Agency and the Supply Investigations Department would look into all complaints and take the appropriate measures.

Last month, Egypt set a fixed price for unsubsidized bread in an effort to counter rising food prices after the Russia-Ukraine war closed off access to lower-priced Black Sea wheat.

Madbouly announced that commercially sold bread would be sold at 11.50 Egyptian pounds ($0.66) per kg, according to a statement by his office.

“We don’t want merchants to lose, but we will not allow unjustified and exaggerated rises in the prices of basic commodities,” he told the meeting on Monday.

The government is seeking to reassure the citizens about the reserves of goods. Minister of Supply and Internal Trade Ali Al-Moselhi emphasized “stability in the wheat supply system, and the speed of payment of dues to farmers.”



Lebanon to Seek US Guarantees in Response to Proposal

US envoy to Beirut Tom Barrack in Lebanon last week (Reuters)
US envoy to Beirut Tom Barrack in Lebanon last week (Reuters)
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Lebanon to Seek US Guarantees in Response to Proposal

US envoy to Beirut Tom Barrack in Lebanon last week (Reuters)
US envoy to Beirut Tom Barrack in Lebanon last week (Reuters)

Lebanon plans to seek assurances from Washington on the implementation of any future deal involving Hezbollah’s disarmament, Lebanese political sources told Asharq Al-Awsat, ahead of a visit by US envoy to Beirut Tom Barrack early next week.

The question of US guarantees tops Lebanon’s concerns, which are shared not only by Hezbollah but also by the Lebanese state, the sources said.

The issue is central to the discussions of a tripartite Lebanese committee that includes representatives of President Joseph Aoun, Parliament Speaker Nabih Berri, Prime Minister Nawaf Salam, meeting regularly at the presidential palace to draft a unified response to a US proposal.

In parallel, the Quintet group - comprising the US, France, Saudi Arabia, Egypt, and Qatar - met at the US embassy in Beirut to discuss the situation, local media reported.

Saudi Ambassador Walid Bukhari was absent from the talks, reportedly due to travel.

According to the sources, Barrack’s visit is not solely to receive Lebanon’s response to the US proposal, but also to hold further consultations with the country’s top leaders.

The US paper outlines a phased plan prioritizing the disarmament of Hezbollah, delineation of Lebanon’s land border with Syria, and the implementation of long-delayed financial, economic, and administrative reforms.

“Lebanon views the proposal as the basis for negotiations, not a surrender document,” the sources said, noting that the primary demand to be raised will be related to binding US guarantees.

They cited the bitter experience that followed the previous ceasefire deal, after which Israel allegedly continued attacks, held on to five disputed points in southern Lebanon, and hindered the return of displaced residents—all while international aid for reconstruction failed to materialize.

“The committee is meeting almost daily,” one source said. “There is consensus on the need for an Israeli withdrawal from occupied points and an end to violations as a prerequisite for any deal. These are sovereign principles Lebanon will not abandon.”

Despite Hezbollah’s public resistance to disarmament, sources described the group’s current stance as “constructive.”

Hezbollah is said to be engaging in discussions through the state’s official channels, with party officials expressing concern over the absence of international guarantees and the risk of being sidelined politically once it gives up its arms.

“There are internal concerns that Hezbollah could be pushed out of political life, especially after talks around electoral law reforms,” one source said.

These fears are compounded by delays in international aid, reconstruction plans, and continued Israeli violations—issues that have persisted since the ceasefire in November.

On Wednesday night, Hezbollah Secretary-General Naim Qassem reiterated the party’s rejection of “any threat of force or foreign meddling,” and insisted that Hezbollah would not “surrender land or weapons to the Israeli enemy” or compromise on its rights.

Qassem also accused Israel of violating the ceasefire more than 3,700 times, while the international community “watches silently, calling only for concessions.” He said Hezbollah would continue to resist, as it has done for decades.

A senior Hezbollah lawmaker said the group remains open to cooperating on strengthening the Lebanese state and restoring its authority across the country—provided Israel withdraws from disputed southern points and halts its ongoing violations.

MP Ali Fayyad, a member of Hezbollah’s parliamentary bloc, said the group “has consistently shown a positive willingness to cooperate in all matters related to state-building, institutional reform, and improving operational capacities to help achieve the desired stability.”

Speaking on Thursday, Fayyad added: “This includes supporting the state in extending its authority over all Lebanese territory and enabling it to carry out all its duties—chief among them the protection and defense of the people and sovereignty.” However, he warned, “None of this will be possible unless national efforts unite to achieve a key condition: Israel must withdraw from the five occupied positions it still holds, end its continued violations, and respect Lebanese sovereignty.”

Fayyad’s comments came amid a broader debate on the future of Hezbollah’s weapons and its role within the state.

Opposition lawmaker Fadi Karam from the Lebanese Forces party slammed Hezbollah’s rhetoric in a post on X.

Addressing Hezbollah’s Qassem, he wrote: “Your weapons have destroyed Lebanon and continue to give Israel an excuse to remain on our land. You’ve tied Lebanon to Iran. And now you claim that handing over your weapons to the Lebanese Army means handing them to Israel? That’s delusional and only exposes Lebanon to new wars.”

The statements reflect widening divisions over Hezbollah’s future role and the path toward national sovereignty and stability, as Lebanon grapples with US-led proposals aimed at de-escalating tensions and launching long-delayed reforms.