The beneficiaries of the urgent finance include: the General Authority for Supply Commodities (GASC); the Holding Company for Spinning and Weaving; and the National Media Authority. It also financed subsidies for student subscriptions to the Cairo Metro, the home delivery of natural gas, medicines, and infant formula.
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It is hoped that the improved system will be reflected in commodity prices that will benefit the consumer and the producer, especially while reducing circulation.
The finance aims to enable public entities to fulfil their commodity and service obligations towards citizens
Mixed bag for consumer stocks but weak for oil, fertilisers, and chemical producers
Correlations Q2 of 2019 – positive for petroleum product producers; weak for consumers, petchems, steel manufacturers
Keeping prices unchanged is a strategic and national goal, says Ismail