File Photo: A woman carries bread after purchasing it at a bakery in Cairo (Photo: Reuters)
Egypt's Supply and Internal Trade Ministry said on Tuesday that a study is under way as regards presidential directives to increase the price of the subsidized bread loaf.
Speaking to MENA, Spokesman for the supply ministry Ahmed Kamal said the study’s results will be submitted to the Cabinet, once completed, to review and issue a final decision on it.
President Abdel Fattah El-Sisi announced earlier during the inauguration of Silos Foods mega project inauguration that it was time for the very low price of the subsidised bread loaves - sold at 5 piastres for 30 years - to increase in order to help cover part of the cost of providing much needed meals to millions of school students among other urgent social needs that benefit the whole population.
For his part, Head of the Bakeries Division at the Cairo Chamber of Commerce Attia Hammad described the increase in the price of the subsidized bread loaf as a historic move in light of the high production costs and wages.