Supply Minister Khaled Hanafi said Monday that he will act to remove all obstacles facing Egyptian sugar companies to be able to compete on the local and international markets.
Hanafi touched upon action taken to protect national sugar firms against dumping operations with the aim to offer products at competitive price and export the surplus.
He was speaking in a meeting with Manpower Minister Nahed el Ashri to discuss problems facing firms affiliated with the Food Industries Holding Company.
Hanafi assured Ashri that his Ministry does and will not import sugar. All needs of sugar are secured from the Egyptian Sugar and Integrated Industries Company through ration cards, he said.
He pointed to a state of recession on the international sugar market as a result of high supply and low demand rates. This, Hanafi said, has taken its toll on the Egyptian sugar market.
He told Ashri that salaries and bonuses of workers at Sugar companies will not be affected.
A mechanism has been outlined to solve problems facing sugar companies and hone their competitive edge on the local and international markets, Hanafi said.
Source: MENA