Anti-trust law protects economic liberalization

The People's Assembly's (PA) Economic Committee yesterday gave assurances that the new anti-trust law would protect economic liberalization and encourage the establishment of big firms.

This will be am advantage for the local consumer as lower production costs will lead to lower prices for basic goods, a report by the committee said.

This in turn will place Egypt in a better position in the international market to accommodate regional and global developments, the report said.

The report underlined the need for such legislation with regard to the greater role of the private sector in the local economy, the report added.

"The new law will prevent monopolies from controlling prices with the pretext of the rising dollar against the Egyptian pound," the report added.