الأمين العام لاتحاد الغرف التجارية في مصر لـ CNBC عربية: توافقنا مع السلاسل التجارية لتخفيض الهوامش الربحية وتطبيق الخصومات

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Watch الأمين العام لاتحاد الغرف التجارية في مصر لـ CNBC عربية: توافقنا مع السلاسل التجارية لتخفيض الهوامش الربحية وتطبيق الخصومات - CNBCArabia on Dailymotion

Transcript

00:00 As you said, our goal was to reduce the emissions and at the same time,

00:05 the citizen should feel the results of the economic reforms that were made in the past.

00:11 There were meetings held over the past two weeks with the Prime Minister,

00:17 the Minister of Finance and Internal Affairs, and the Minister of Trade and Industry.

00:20 The goal was the mechanism you are asking about.

00:23 We agreed with the market leaders.

00:25 In every product, there are 5 or 6 companies that make up 70% or 80% of the market.

00:31 We worked with these companies and agreed that whether it was a fabric or a manufactured product,

00:38 it was imported at the cost of the dollar, which was more than 70 pounds,

00:45 and we divided this additional cost into 16 parts.

00:50 This way, we were able to reduce the prices immediately.

00:53 This was the first step.

00:55 The second step was to agree with the trade chains that we would reduce the profits

00:59 and apply the new prices immediately.

01:04 The third step is the practical side.

01:07 Today, with this large amount of emissions from the factories,

01:11 the factories were operating at half or a quarter of a flower per day,

01:14 so they were able to sustain their fixed expenses at a limited amount of production.

01:18 Today, they are fully operational, so production is divided by fixed expenses,

01:24 which helps us reduce the costs.

01:26 The most important question for the Egyptian citizens is that

01:30 when the dollar was rising significantly in the equilateral market,

01:33 the prices were rising at a higher rate than the price of the exchange.

01:37 Now, after about three weeks of the decision to lower the price of the exchange,

01:41 and the dollar has decreased by about 60% in front of the religious,

01:44 the prices of the goods did not decrease at the same rate as they did.

01:49 No, they did not decrease at the same rate for a reason.

01:52 The price of the exchange is rising for two reasons.

01:55 One is that you put the cost of the exchange to keep the goods fixed.

02:00 The other reason is that when you find that the price of the exchange is rising,

02:04 you put the risk at a higher level.

02:06 Because in many cases, the goods are being supplied by the exporters in a later period.

02:11 I don't know how much the dollar will be after that.

02:13 This is one of the reasons for the rapid rise.

02:15 As for the decline, there is a cycle for any commodity

02:18 between the release of the goods, the processing,

02:22 the delivery to the wholesale trader, then the half-wholesale trader,

02:25 and then the distribution trader.

02:27 This cycle takes place every two to three months.

02:29 What we are doing now is to overcome this cycle

02:31 and to speed up the rapid decline for two reasons.

02:36 One is that the prices have reached numbers that may not be acceptable to the citizen.

02:41 The other reason is that our goal is not only to reduce inflation.

02:45 Reducing inflation is not a goal in itself.

02:47 The goal is to reduce inflation,

02:50 the central bank will reduce interest rates,

02:52 and therefore the investment and the economic cycle will move to the future.

02:58 How will you balance the initiative to reduce prices

03:01 with the increase in the recent prices of the burnt goods

03:04 and the rise in the prices of solar energy?

03:06 As you know, when the prices of solar energy and electricity rise,

03:10 the prices of all commodities rise.

03:12 I will not go into the sequence of what you said,

03:15 this is the last part, the rise in the prices of commodities.

03:17 When you calculate the transportation costs,

03:19 and we have studied this,

03:21 the transportation costs of the burnt goods

03:24 form a small percentage of the cost.

03:26 The waste, the change, the garbage,

03:29 there are a number of expenses,

03:32 therefore the price of burnt goods is not a fundamental component of the transportation costs.

03:38 This is a point of view of economics,

03:40 but on the ground the prices rise.

03:42 I will continue the point.

03:44 At the same time, the single share of any commodity,

03:47 from the transportation cost,

03:49 is money, and we are talking about commodities in pounds,

03:52 and therefore there is the ability of the manufacturer,

03:55 the importer, the trader, the distributor,

03:58 and the chains to absorb this increase.

04:01 This is what happened in the last increase,

04:03 we did not see a final impact on the prices of commodities,

04:06 and we do not expect that there will be an increase on the prices of commodities.

04:09 The only thing that can be increased is the transportation cost to individuals.

04:13 As for the cost of the commodity, or the share of the commodity from the transportation cost,

04:17 this is a big...

04:18 You expect that the increase in the prices of burnt goods will not affect the prices of commodities.

04:21 It is not expected that it will affect them.

04:23 Today, the Prime Minister talked about the releases of most of the accumulated commodities in the mines,

04:27 except for some commodities that its owners refused,

04:30 or some traders refused to accept them.

04:32 How do you explain the refusal of some of the accumulated commodities in the mines?

04:36 As an importer, I calculate two things.

04:40 I calculate the cost of the land when it is late in the release,

04:43 and I calculate the possibility that the dollar will go down,

04:46 because we see that the pound is strong at the current stage,

04:50 and I make a decision on this basis.

04:52 We may have asked the Prime Minister's government,

04:55 in the past stage, when it was late in the processing of the currencies for the import and the releases,

05:01 to cancel the decision of the minimum limit for the existence of commodities in the mines,

05:06 and the government was grateful for this, because it was not a crime for the importers.

05:10 But at this stage, there is no justifier,

05:13 the law will be applied as it is, the minimum limit.

05:16 The release of commodities?

05:17 It is not called a release, it is a turn for the neglected, and the neglected goes down in the increase.

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