{"id":57466,"date":"2020-07-23T00:27:22","date_gmt":"2020-07-22T22:27:22","guid":{"rendered":"https:\/\/www.csregypt.com\/?p=57466"},"modified":"2020-07-26T11:02:35","modified_gmt":"2020-07-26T09:02:35","slug":"egp-12-25-bn-presidential-initiative-to-promote-local-products","status":"publish","type":"post","link":"https:\/\/csregypt.com\/en\/egp-12-25-bn-presidential-initiative-to-promote-local-products\/","title":{"rendered":"EGP 12.25 bn Egyptian presidential initiative to incentivize local products"},"content":{"rendered":"<p dir=\"ltr\" style=\"text-align: left;\">Prime Minister Moustafa Madbouli said an EGP 12.25 billion presidential <a href=\"https:\/\/www.csregypt.com\/en\/himaya-initiative-ceo-we-will-honor-all-firms-backing-anti-covid-19-state-initiatives-after-crisis\/\">initiative<\/a> will be launched on July 26 to promote local products and incentivize local consumption.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">While chairing a cabinet meeting in the New Alamein city on Wednesday, the A large number of companies and banks take part in the initiative which falls within the framework of containing the fallout of the coronavirus.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Madbouli added that the initiative will work of securing a number of staple commodities at low price.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Meanwhile,<a href=\"http:\/\/www.mof.gov.eg\/MOFGallerySource\/English\/Dr.Mohamed_Maait-Bio.pdf\"> Finance Minister Mohamed Maait<\/a> said the initiative is meant to encourage people from various social and financial backgrounds to boost their consumption.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">He noted that the treasury will offer EGP 200 to 1000 for each individual\u2019s ration card to encourage people to buy low-price commodities.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">\u00a0The initiative will also contribute to galvanizing factories into increasing their production, operating production lines at full capacity and increasing job opportunities.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Under the initiative, shops and hypermarkets which are due to take part in the initiative will offer discounts up to 20 percent on various commodities during the initiative\u2019s period.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">He noted that all Egyptians \u2013 even those who do not have ration cards \u2013 will benefit from the discounts offered under the overture.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">He added that home appliance, ready-made clothes, leather products, furniture and other products are included in the initiative.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">The initiative\u2019s portal is available for online purchase.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">He added that it was agreed with a number of banks to offer low-interest financing to encourage people to raise their standards of living.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">Maait said the initiative aims to boost consumption which is one of the main components of the Gross Domestic Product in addition to increasing factories\u2019 production and realizing financial inclusion.<\/p>\n<p dir=\"ltr\" style=\"text-align: left;\">He noted that the initiative will be comprehensively assessed to ensure that it attained its goals.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prime Minister Moustafa Madbouli said an EGP 12.25 billion presidential initiative will be launched on July 26 to promote local products and incentivize local consumption. While chairing a cabinet meeting in the New Alamein city on Wednesday, the A large number of companies and banks take part in the initiative which falls within the framework [&hellip;]<\/p>\n","protected":false},"author":410,"featured_media":57467,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6262,6045,984],"tags":[9096,9095],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EGP 12.25 bn Egyptian presidential initiative to incentivize local products - Csr Egypt<\/title>\n<meta name=\"description\" content=\"Prime Minister Moustafa Madbouli said an EGP 12.25 bn presidential initiative will be launched on July 26 to promote local products .\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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