Committee Chairman Farid Khamis
said Tuesday that tons of textiles were smuggled in from Egyptian
seaports and sold on the local market, while Egyptian products were
heavily taxed”.He also criticized authorities for failing to
control what he called “legal smuggling,” whereby plain
textiles–imported tax-free in order to undergo printing and then
re-export–remain in Egypt to be sold on the local market. Khamis said
only 50 percent of imported plain textiles were subsequently
re-exported, while the rest were sold domestically ..Khamis added
that the problems currently facing the local textiles sector were a
result of the government’s free-market economic policies. “Curse the
privatization process,” he concluded .
Date:3/14/2010
Source:Reuters