These companies used to get their dollar needs directly from the CBE at the official exchange rate before the flotation. This can be considered a clear warning that any price increases will be met with legal opposition from their side. Investment climateAlthough the government expressed its plans to facilitate investments in Egypt, their actions following the flotation came in contradiction to the announced plans. Banks then demanded companies to pay the difference in the exchange rate before and after the flotation. Consequently a number of Egyptian investors took out afull-page advertisement in Egypt's daily newspaper Al-Ahram, calling for Al-Sisi to take "emergency measures" to save Egyptian companies and industries after the recent floating of the local currency.

Source: Daily News Egypt January 09, 2017 10:58 UTC