25 February 2024 04:24 AM

Presidential Initiative “Made Cheaper for You”

Thursday، 25 August 2022 - 01:25 PM

Initiative Features

The initiative provides a 20% discount on many goods on average, as well as an additional 10% discount offered by the state to ration cardholders, up to a maximum of EGP 200 per person and EGP 1000 per card.

Initiative Details

The initiative provided ration cardholders with a subsidy of EGP 200 per person, up to a maximum of EGP 1000 per card, calculated as an additional 10% discount on the initiative's participating goods. Discounts for all segments could reach 20%, at a cost of EGP 12.25 billion to be borne by the State's Public Treasury to help low-income people.

It lasted three months, and included 4,200 commodities, and 1,200 traders. “Ma Yeghlash Aleik” (Made Cheaper for You) is written on the store participating in the initiative. In addition, commodities such as household appliances, electronics, ready-made clothing, leather products, furniture, home finishing products, handicrafts, and others are available.

The initiative enabled online purchasing via the website "WWW.MOBADRA.GOV.EG" and installment sales via commodity finance at reduced interest rates in collaboration with some Egyptian banks and consumer finance companies.

Available Goods

The initiative included a wide range of products, including air conditioners, televisions, refrigerators, deep freezers, washing machines, and heaters. The electronics sector, which includes mobile phones and tablets, and the electricity and lighting sector, which so far only includes LED bulbs, were also among the participating sectors, as was the home sector, which included 92 different items that include kitchen and tableware appliances. In addition to the chemicals sector, which includes plastic (Shalemoh). Sanitary ware, such as saving parts for water mixers, flushes, and showers, is also among the commodities sectors taking part in the initiative. In addition, the furniture sector includes the Islamic bedroom, armchair, footed sofa, tables, cupboards, shoe storage cabinets, serving units, and swing chairs, as well as the machinery and equipment sector, which includes a variety of motors.

Purchase Finance

The initiative enabled consumers to obtain financing from 4 banks and financing companies participating in the initiative to purchase goods, and these banks and companies provided financing with low interest rates and repayment terms of up to 24 months. These banks include the National Bank of Egypt (NBE), Banque Misr (BM), Banque du Caire, and Commercial International Bank (CIB); additionally, the companies include “AMAN”, which is affiliated with Raya Holding, and vaLU, which is a subsidiary of EFG Hermes, as well as Nasser Social Bank (NSB).

Terms of Participation for Traders

-          The product must be Egyptian.

-          The local component of the product cannot be less than 25% of the products participating in the initiative.

-          Goods and food products are not allowed in the initiative.

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