Supermarket Carrefour has fixed prices on 30 basic food items until the end of 2014to meet their “commitment to assist the Egyptian people”, Carrefour’s Executive Regional Director Herve Majidier told the Daily News Egypt on Tuesday.
Majidier said the items in question include essential goods such as rice, oil, sugar and other commodities. He added that a list will be published on Wednesday outlining which items will have a fixed price.
After raising the prices of petroleum products, Carrefour, which is owned by UAE’s Majid Al-Futtaim Group, received several requests from suppliers to raise prices, all of which were rejected, Majidier explained.
“I have decided to take action and meet the supply minister to suggest our ideas to help the people, and he welcomed our ideas,” Majidier added.
Minister of Supply Khaled Hanafy said in a statement that the move represents the private sector’s eagerness to play a “national role” in alleviating burdens on citizens and protecting them from rising prices.
Hanafy added that the step comes along with the state’s consumer complexes move to sell all food and non-food items at discounted prices. In Ramadan, these complexes are selling food at 30% below market, prices to meet the needs of all citizens, especially those on low-incomes.
Majidier said that Carrefour has other ideas and actions, regarding controlling prices, which will be effected before the end of the week.
Commenting on the government’s action to raise fuel prices, Majidier said that it was an “absolutely necessary” decision as Egypt’s old fuel prices were some of the cheapest worldwide.
In an interview with Daily News Egypt in May, Majidier stated that Carrefour’s prices of basic items in Ramadan will be 8% cheaper than the cheapest seller in the market, adding that they are selling products with the same prices of last year.