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The General Assembly of the Fatwa and Legislation headed by Counselor, Mohamed El Hussiny, and the First Deputy-Chairman of the State Council confirmed the validity of the bidding held by IDA for granting the cement projects' licenses. El Hussiny also stated that accrediting or annulling the bidding result depends on the economic and financial aspects not on legal aspects. The fatwa ended up stating that the tenders and bids law became a public law. Thus, the cement factories and companies will start on Wednesday 20/5/2009 to print the sale prices on the cement sacks within the framework of regulating the construction materials market. Moreover, it is decided that the factories shall print the maximum of the factory sale price and the consumer sale price on every sack.
IDA Chairman declared that the cement pricing file is currently studied by the Consumer Protection and Antitrust Bureau to determine the cost of the cement ton elements and put an average price for it within 3 months in maximum.
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