New Measures to Curb Imports, Protect Domestic IndustrySource: www.export-egypt.com 11/3/2015, Location: Africa |
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The Economic Ministerial Group under Prime Minister Sherif Ismail reviewed in its meeting on 2/11/2015 a number of measures taken by the Finance Ministry to curb imports and protect the local industry.
The measures include tightening control over the customs crossings in cooperation with the ministries of defense and interior to prevent smuggling and guarantee collecting the customs fees and taxes on imports. They also include setting guideline prices to combat fake bills that do not reflect the real value of imported products. Guideline prices of more than 300 products were set and distributed to the crossings, including textiles, ready-made clothes and furniture. As many as 8,000 smuggling attempts were reported in 2014/2015. Therefore, the crossings were equipped with detectors to curb the smuggling of goods. The customs revenues hit 22 billion pounds for the first time in its history. |
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