Mubarak reaffirmed that he will never tolerate any further increase in prices of bread, gasoline and fuel, despite the sharp increase of world prices. This comes in President Mubarak statement to newspapers chief editors upon return from his visit to Poland on Wednesday 12/3/2008.

President Mubarak said he will not allow any increase in prices of bread, gasoline and fuel in spite of the big increase in world prices out of his keenness on protecting the limited income brackets.

The President said the government will do its best to limit the negative implications of the high price of oil and basic foodstuffs at the world level on local markets adding subsidy assigned for this purpose jumped from LE 9 billion to LE 15 billion in the current budget.

He said he has given directives to increase bread production and to pay more attention to its distribution.

The President stressed that any tampering with flour quotas and bread distribution will be strongly faced.

Exchange of visits by senior officials and businessmen from the two countries to discuss means of increasing economic cooperation, benefiting from facilities Egypt offered to the Polish side as part of the Egyptian economic reform program and giving a chance to foreign capital with the aim of launching joint ventures.

President Mubarak pointed out that the presence of Polish companies in Egypt to prospect for oil in the western desert was a starting point towards opening new horizons for joint investment between Egypt and Poland.

13/3/2008