Egypt's Shura Council suggests fixed pricing

Following mounting concerns over recent rises in domestic cement prices, Egypt's Shura Council housing committee (upper house of parliament) has suggested imposing mandatory pricing on local cement companies.

“Egyptian Competition Authority will be tasked with setting the price if the government approves the Shura Council's recommendation," Atef Yacub, the head of Egypt's Consumer Protection Agency (CPA), told Ahramonline.

Cement prices have risen by about EGP200 (US$29) and is currently beings old at around EGP800-1200/t (US$118-177)

Mr Yacub argued that the current price hike is unjustified: "The rise in energy prices on cement factories doesn't reflect this big lift in prices for consumers," he said.