Ali Shoukry, Vice-President of Cairo Chamber of Commerce, demanded Eng. Tarek Kabil, Minister of Industry and Internal Trade, to reconsider increasing exports support to EGP 6bn. This new exports support was announced in 2016/17 financial year in order to enhance Egypt’s non-oil exports over the next period.
Shoukry questioned the benefit behind increasing exports support, adding that exports did not contribute to dollar price decrease. The dollar price is worth of EGP 11 at the moment as a consequent of taking the wrong procedures concerning exports support.
Shoukry warned from the negative influence on the Egyptian citizen, caused by increasing exports and producers’ support. Both producers and manufacturers can get dollars from banks with their official price to meet their needs of importing production requirements, he adds. Where is the exports’ profit, I wonder? Why exports have not solved our dollar crisis? Shoukry claims that producers and manufacturers sell their dollars profit to the black market to make use of the price difference. Finally, he asks for equality and procedures that maintain citizens’ rights.
