10% additional discount for ration card owners to stimulate the local product

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Dr. Muhammad Moait announced, Minister of Finance, On granting supply card holders an additional 10% discount on all durable and non-durable consumer goods offered for sale within the presidential initiative to stimulate consumption and encourage the local product, in implementation of the presidential directives to reduce the burden on low-income people, provided that the state’s public treasury bear this additional discount with a total value 12 billion pounds from the budget for the current fiscal year 2020/2021.

Read also President El-Sisi directs the completion of the self-sufficiency project of plasma derivatives … videoMaait explained that the presidential initiative will be launched to stimulate consumption and encourage the local product before the end of this month and for a period of 3 months to encourage citizens with different financial capabilities and social strata to buy the local product, especially Consumer Goods Durable and non-durable, which motivates factories to raise their production capabilities in line with the expected demand for shops and commercial chains, and then create new job opportunities; In the manner that contributes to moving the economy and increasing the rates of consumption spending, which witnessed a slowdown in light of the Corona pandemic.

He said that there is a list of local durable and non-durable consumer goods that will be offered for sale at discounted prices for all citizens who wish to purchase through the outlets and distribution points of companies, factories, stores and commercial chains participating in the presidential initiative to stimulate consumption and encourage the local product, pointing to the launch of a website for this initiative. The Presidential includes participants and displays their products and discounts.

He added that this presidential initiative will allow the possibility of electronic purchase “online”, and allow installment for two years with reduced interest rates. This is to make it easier for citizens to reduce the burdens on their shoulders.

The Minister emphasized that the presidential initiative to stimulate consumption and encourage the local product includes electrical appliances, household appliances, leather products, ready-made clothes, building materials, paints, craft and technology industries, and aims to motivate investors in these areas to expand their production activities, inject new investments and provide job opportunities, as It contributes to improving economic performance.

He explained that the presidential initiative to stimulate consumption and encourage the local product will be subject to periodic evaluation and close monitoring by the various ministries and relevant authorities, especially the Consumer Protection Agency. In a manner that guarantees its success and the achievement of the desired goals, pointing out that this presidential initiative is renewable again in light of the positive results it achieves in raising the rate of consumption spending growth, moving the economy wheel, and reducing burdens on citizens.



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