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Prime Minister Issues Two Decrees R

Prime Minister Issues Two Decrees Regarding Price Supervision
On 1 April 2013, the Prime Minister issued decree No. 316 of 2013 establishing a council (the “Council”) to follow-up on the structural obstacles affecting prices of goods and services (the "Decree").[1] The Council is headed by the Prime Minister and comprises the Central Bank Governor, Ministers of Agriculture, Industry, Finance, and Supplies, and the Chairman of the Central Agency for Public Mobilisation and Statistics, as well as the Chairman of the Competition Authority. The Decree stated that the Council would be responsible for assessing the forces of supply and demand for various commodities in order to determine the causes for their price increases, especially with respect to food products, and determine the non-monetary measures that may be adopted by the Government in order to prevent such increases. The Decree further stated that the Council is to meet every three months, and that a technical secretariat be formed to follow up on its activities.
Conflicting Decisions
Two weeks later, the Prime Minister issued a second decree which merely amended the composition of the Council[2] by adding the Minister of Investment, the Minister of Petroleum, the Chairman of the Central Auditing Agency, and the Chairman of the Information and Decision Support Centre. But in spite of the importance of the subject and the fact that Egyptians are suffering from the consecutive increases in prices of food stuffs, the method of handling this crisis by establishing a Council that meets once every three months, and then changing its composition so that it includes twelve senior officials instead of nine, does not reflect the required seriousness with which the Government needs to deal with this matter.   [1] Prime Minister’s Decree No. 316 of 2013 establishing a Council to follow-up on the Structural Obstacles affecting Prices of Goods and Services, Egyptian Gazette, Issue No. 76 (bis), 1 April 2013. [2] Prime Minister’s Decree No. 383/2013 amending the composition of the Council that supervises the Structural Obstacles affecting Prices of Goods and Services, Egyptian Gazette, Issue No. 90 (bis), 17 April 2013.
On 1 April 2013, the Prime Minister issued decree No. 316 of 2013 establishing a council (the “Council”) to follow-up on the structural obstacles affecting prices of goods and services (the "Decree").[1] The Council is headed by the Prime Minister and comprises the Central Bank Governor, Ministers of Agriculture, Industry, Finance, and Supplies, and the Chairman of the Central Agency for Public Mobilisation and Statistics, as well as the Chairman of the Competition Authority. The Decree stated that the Council would be responsible for assessing the forces of supply and demand for various commodities in order to determine the causes for their price increases, especially with respect to food products, and determine the non-monetary measures that may be adopted by the Government in order to prevent such increases. The Decree further stated that the Council is to meet every three months, and that a technical secretariat be formed to follow up on its activities.
Conflicting Decisions
Two weeks later, the Prime Minister issued a second decree which merely amended the composition of the Council[2] by adding the Minister of Investment, the Minister of Petroleum, the Chairman of the Central Auditing Agency, and the Chairman of the Information and Decision Support Centre. But in spite of the importance of the subject and the fact that Egyptians are suffering from the consecutive increases in prices of food stuffs, the method of handling this crisis by establishing a Council that meets once every three months, and then changing its composition so that it includes twelve senior officials instead of nine, does not reflect the required seriousness with which the Government needs to deal with this matter.   [1] Prime Minister’s Decree No. 316 of 2013 establishing a Council to follow-up on the Structural Obstacles affecting Prices of Goods and Services, Egyptian Gazette, Issue No. 76 (bis), 1 April 2013. [2] Prime Minister’s Decree No. 383/2013 amending the composition of the Council that supervises the Structural Obstacles affecting Prices of Goods and Services, Egyptian Gazette, Issue No. 90 (bis), 17 April 2013.