Egypt: Parliament gives final nod to amendments to Consumer Protection Act

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The Egyptian House of Representatives has given its final approval to draft law submitted by the government on amending some provisions of the Consumer Protection Act to strengthen penalties for hoarding stocks of strategic commodities, as per a statement.

As per the amendment, violators will be subject to strict prison sentences and the shut-down of their stores where stock hoarding took place.

The amendments also stipulate that hoarder’s shops could be closed for up to a six-month period, with the possibility of canceling their shops’ licenses.

In January, The Egyptian cabinet ratified an amendment to the Consumer Protection Act to toughen penalties on hoarders of strategic commodities.

The changes approved by the cabinet included that hoarders are subject to at least a year in prison and a fine ranging between EGP 100,000 and EGP 2 million, or an amount equivalent to the value of the stockpiled commodities.