CAIRO, March 11: Egypt’s government has decided to freeze state imports for three months except for basic food items due to the weak local currency and a shortage in hard currency, official newspapers reported on Tuesday.

The Egyptian pound has lost about 20 per cent of its value against the US dollar and the euro since it was allowed to float freely on January 29.

Other measures taken by the government will include fixing the price of 15 basic food products and reimbursing producers for any loss, said the daily Al-Akhbar quoting Prime Minister Atef Obeid in a speech to parliament.

The list of these products, yet to be published, was expected to include items such as sugar, oil, rice and flour, according to a parliamentary official.—AFP