The Federation of Egyptian Chambers of Commerce on Tuesday announced an initiative for guaranteeing the stability of prices and availability of goods in the local market.

The initiative comes in response to directives by President Abdel Fattah El Sisi to provide all commodities for the Egyptian citizen nationwide at affordable prices.

Head of the federation Ibrahim el Araby said in statements after a meeting with Prime Minister Mostafa Madbouli that the private sector should play a societal role through providing goods at affordable prices to consumers.

He urged all salesmen and traders not to increase prices for alleviating the financial burdens on the citizens.

Attending the meeting were the ministers of supply and internal trade, finance and trade and industry.