Government to intervene to subsidize basic food stuffs and bare the route for speculators

It seems that the government has decided to strike back to curb the prices’ frenzy that exhausted the Algerian consumer. In this respect the Executive Branch will tighten control on the market and give more prerogatives to the Ministry of Commerce in a bid to regulate the sector and slam the door on the speculators.

•  
• According to the preliminary text of  draft law put on the agenda of today’s cabinet meeting for debate, the Ministry of Commerce can intervene to put a selling for the profit’s margin on all commodities, industrial products and agriculture ones as well as imported goods including sugar, oily and greasy products.
•  
•  
• The draft law gives the possibility to implement temporary measures to set up prices and profit margins in times of crisis and markets turmoil.
•  
•  
• The revision of the law, regarded as real barometer for prices’ control, will put an end to speculation and eliminate the negative aspects of the monopoly. The law will definitely regulate the market and punish the reluctant by imposing financial penalties, seizures and definite striking out from the register’s office.
•  
• The law comes against the backdrop of skyrocketing prices of basic food commodities including sugar, fruits and vegetables and meat. The government is resilient to intervene to in a move to alleviate the Algerian citizens’ suffering and protect their purchasing power.
•  
• Warnings launched by the President Abdelaziz Bouteflika in the direction of his Minister El Hachemi during the Cabinet meeting held the first day of Ramadan, have been taken into consideration and prompt the relevant sector to react accordingly.
•