(MENAFN - Daily News Egypt) President Abdel Fattah Al-Sisi issued a decree to amend articles of the law no.95/1954 regulating Supply Affairs and the law no.3/2005 on the Protection of Competition and the Prevention of Monopolistic Practices, according to official Gazette on Tuesday.
The amendments seek to toughen the penalties for any person who hides or refrains from selling supplies and petroleum materials distributed through public sector companies, consumer cooperatives, gas stations, and car service stations.
The law also includes toughening the penalties for those who would violate violate amendment of previous articles.
Last week, Egypt's cabinet issued the regulations of the new Consumer Protection Law in order to protect consumer rights and prevent harmful practices in the markets.
It comes after President Al-Sisi has ratified the law in September 2018, following the Egyptian parliament's approval in April.
The 56-article law, published in the official Gazette, aims to protect the consumers in Egypt through strict penalties against companies or merchants who violate regulations.
Head of the Consumer Protection Agency, Rady Abdel Moety, said the agency has recently launched control campaigns in five governorates with judicial enforcement including Cairo, Giza, Aswan, Sharm El-Sheikh, and Port Said. The campaign will expand to other governorates later after the success of this campaign in cooperation with the concerned bodies at the ministry of supply and other regulatory bodies in the state.