The Minister of Industry, Trade and Supply Youssef Al-Shamali decided to set price ceilings for black cement at 87 dinars per ton on factory land and 98 dinars for the consumer/trader’s land, as of tomorrow, Thursday.

According to a statement by the ministry on Wednesday, price ceilings for rebar with tension 60 were set by 720 dinars on the factory land, and the consumed selling price was 750 dinars per ton.

The price ceilings for these two articles include sales tax, which represents the upper limit, and competition takes place below it.

The ministry stressed that prices will be monitored, analyzed and reviewed periodically, and the appropriate decision will be taken.

The two decisions were taken based on the provisions of Article (7) of the Industry and Trade Law No. (18) of 1998 and its amendments, and a reference to Cabinet Resolution No. (6227) dated 3/20/2022, which includes authorizing the Minister of Industry, Trade and Supply to take legal measures and the necessary and guaranteeing measures. To maintain competitiveness and prevent any practices that prejudice it, taking into account the legitimate profit margins for traders, industrialists and workers in different sectors, and to take any other measures, including permitting imports and setting price ceilings for goods whose prices are unjustifiably high and in accordance with the provisions of the law.