Egyptian Minister of Supply and Internal Trade Ali Al-Meselhi issued a decision to amend the fees for stamping the jewelry and scales, according to what was published in the Egyptian newspaper Al-Ahram, noting that "the scales" canceled dealing in piasters and raised the value of stamps for gold and silver.
The head of the Balancing Stamps Authority, Abdullah Montaser, told Al-Ahram Gate that adjusting fees is a logical development, especially in light of the constant change in the value of the currency, the development of services and changing their value, and also to maximize the Authority's revenues.
He continued: The value of the stamp did not change for forty years, and it was estimated at 40 piasters per gram, whose value is four pounds at 10% of the value of the gram at the time, pointing out that the value of the gram of gold reached 1,000 pounds today, and the high value of the stamp for one pound will not affect in a way It is negative on value, but increases the revenue of the Authority in a relative way.
He pointed out that the rate of increase ranges between 5 - 100%, for fees that were scheduled for piasters 40 years ago, and that dealings have now been canceled.
He affirmed that the implementation of the decision will be from the date of its publication in the Egyptian Al-Waqaea newspaper.
Dubai - Emirates today