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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)
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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.”

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Arab World

Israeli Army Reaches Outskirts of Litani River in Southern Lebanon

An Israeli tank loaded onto a truck being transported to the border with southern Lebanon in the Upper Galilee (EPA)
An Israeli tank loaded onto a truck being transported to the border with southern Lebanon in the Upper Galilee (EPA)
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Israeli Army Reaches Outskirts of Litani River in Southern Lebanon

An Israeli tank loaded onto a truck being transported to the border with southern Lebanon in the Upper Galilee (EPA)
An Israeli tank loaded onto a truck being transported to the border with southern Lebanon in the Upper Galilee (EPA)

Israeli forces have launched their largest ground incursion into southern Lebanon since the conflict began, reaching the outskirts of the Litani River near Deirmimas.

They entered the town’s edges in an effort to separate Nabatieh from Marjayoun and prepare for an attack on the town of Taybeh from the west and north.

This move also aimed to neutralize Taybeh hill, which overlooks the Khiam plain, where Israel plans to extend its operations and capture the city of Khiam.

Lebanese media reported that Israel set up a checkpoint at the Deirmimas junction, cutting off Marjayoun from Nabatieh.

They also blocked the western entrance to Deirmimas near a fuel station using earth mounds, with Israeli military vehicles stationed there. Reports also said Israeli forces prevented UNIFIL and the Lebanese army from passing toward Marjayoun.

Lebanese sources following the battle in the south reported that Israeli forces advanced five kilometers west from the town of Kfar Kila, moving through olive groves. This advance took advantage of the absence of Hezbollah fighters in Christian areas like Qlayaa, Bir al-Muluk, and Deirmimas.

The sources told Asharq Al-Awsat that this allowed Israeli forces to reach the outskirts of the Litani River for the first time since 2006, cutting off Nabatieh from Marjayoun. Israeli artillery had previously targeted this route several times, and drones had carried out strikes there.

Israel supported its ground advance with heavy artillery fire. Lebanese security sources said Israeli artillery targeted hills overlooking Deirmimas throughout Thursday night into Friday, hitting locations like Beaufort Castle, Arnoun, Yihmour, Wadi Zawtar, and Deir Siryan.

This fire typically provides cover for infantry advances. The sources also confirmed that Israeli ground movements were backed by airstrikes and drones for added security.

They speculated the advance followed a route from Kfar Kila through Tall al-Nahas and Bir al-Muluk toward Deirmimas, which is almost empty of residents and has no Hezbollah presence.

Hezbollah fired rockets at Israeli forces in the area, with three statements confirming the targeting of Israeli positions and vehicles near Deirmimas.

Media reports mentioned multiple rocket strikes on Israeli targets in Khiam and near Tall al-Nahas, as well as a guided missile attack on Israeli movements near oil groves close to the Marqos station at Deirmimas’ edge.

A photo shared by Lebanese media showed an Israeli tank behind an exposed hill east of Qlayaa, protected from the west and north. To the south, Israeli forces entered the town of Deirmimas, which overlooks the position.

Military expert Mustafa Asaad said the image, showing a bulldozer behind a tank at the Qlayaa-Marjayoun-Deirmimas junction, suggests that infantry units secured the area—either on foot or in fast vehicles—before entering Deirmimas.

The town’s mayor confirmed to local media that Israeli forces made a “small incursion” into Deirmimas, advancing through olive groves from Kfar Kila.

Hezbollah has stated it does not have military positions in Christian or Druze areas in southern Lebanon, as these communities oppose its presence. Sources close to Hezbollah say this is due to political reasons and security concerns.