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Egypt mulling intervention to control cement pricing
- Egypt: Monday, March 18 - 2013 at 07:45
The housing committee of Egypt's Shura Council (upper house of parliament) has proposed a mandatory pricing scheme on the country's cement firms, following recent cement price hikes introduced by the country's major cement producers, Ahram has reported. "Egyptian Competition Authority will be tasked with setting the price if the government approves the Shura Council's recommendation," said the head of Egypt's Consumer Protection Agency, Atef Yacub. The "unjustified increase in cement prices" is the main reason behind the suggestion of the mandatory pricing, he said. Suez, El-Sewedy, and Lafarge are the main cement producers in the Egyptian market, which handle around 48.3 million tonne of cement a year.
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