Egypt’s Prime Minister Sherif Ismail said that the government has formed a cabinet-level committee that will set profit margins for producing/trading in key staples, Al Borsa reported. The committee will not, however, be setting prices for the goods. The committee will "devise the proper mechanisms" for setting profit margins of basic goods - both local and imported, according to a decree signed by the prime minister which did not specify the goods that would be covered. The committee will be chaired by Ismail and will include the Ministers of Development, Trade, Finance, Investment and Supply, as well as representatives from the Ministry of Defense, the Intelligence Agency, and several state consumer and anti-corruption watchdogs. Meanwhile, the Federation of Egyptian Industries decided to set an emergency meeting on Sunday to discuss the implications of this decision, claiming that it is illegitimate and that it was not discussed with the federation. (Reuters, Al Borsa)