Raw Materials Held at Customs Released to Restart Local Production

The Ministry of Supply and Internal Trade announced that, after holding raw materials at customs over the past few months, they will now release these materials to bring local production back on track.

The materials were previously held at customs in order to limit spending of foreign currency on imports, in light of the global economic downturn. With the recent flotation of the Egyptian pound, the release of these materials is expected to help stabilize prices and increase supply, as well as restart production of many Egyptian factories.