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Member of the Egyptian Federation of Contractors for the “Le Bani Misr” program: The contracting sector is the most and strongest that has tolerated all the shocks that the market has experienced.

Ashraf Tawfiq

The rise in dollar prices affects the construction sector Significantly

We submitted a memorandum to extend the project implementation period from 3 to 6 months

Eng. Shams El-Din Youssef, a member of the Board of Directors of the Egyptian Federation of Construction and Building Contractors, said that the contracting sector is the most and the strongest that bears all the shocks that the construction sector has experienced. Over the past years.

Shams El-Din indicated, in a telephone interview to the program “Al-Li Bani Misr”, the writer’s presentation Journalist Marwa Al-Haddad and broadcaster on “Radio Egypt” indicated that the successive rises in the prices of building materials inputs, which reached the price of iron more than
%, and in light of this The crisis and successive rises, we find that the contracts of construction companies with government agencies have become partially difficult.

He said that the rise in dollar prices affects The construction sector is heavily affected, notably and that This leads to a rise in the prices of all commodities for distributors and producers, pointing out that importers put in their accounts when importing a commodity from abroad, evaluating it at a price higher than what is traded in the market in anticipation of a new increase that may occur in the future.
Osoud of the Egyptian Federation of Construction and Building Contractors stressed that the sector has gone through difficult periods, but at the same time companies cannot stop working on the projects assigned to them, especially since the sector is one of the sectors Labor-intensive, pointing out that in the event of companies stopping, there will be unemployment for workers that depend entirely on daily work.

He noted that the Egyptian Federation of Construction and Building Contractors submitted a memorandum to the Council of Ministers and the Minister of Housing to approve extending the implementation of projects for a period ranging from 3 to 6 months; To reduce the increasing demand for building materials at the present time until prices return to normal or at least until they are stable.