Representatives from the Federation of Egyptian Chambers of Commerce (FEDCOC) will meet Prime Minister Sherif Ismail in the next few days to discuss stopping the security raids against factories and a number of commercial chains on charges of trading sugar, FEDCOC general secretary Alaa Ezz said. Sources told Daily News Egypt that security forces broke into a number of factories, including Pepsi Company warehouses, and confiscated large amounts of sugar, claiming that the factories have been trading their surplus storage amounts. The sources added that the investigative forces not only seized amounts from factories but carried out raids on transport companies as well. The traded amounts of sugar that were seized at all locations were later offered for resale in government consumer warehouses at EGP 5. Ezz said that confiscating sugar, rice, and oil from merchants, factories, and producers under the pretext of investigations into supply is illegal and unconstitutional.

Source: Daily News Egypt October 23, 2016 20:06 UTC