date:May 09, 2014
s of credit being issued for goods they supply to state buyers, including the General Authority of Supply Commodities (GASC).
GASC was not immediately available to comment.
There are now several shipments that are ready and waiting on their letters of credit that have been delayed for over a month in some cases, one Cairo-based trader with close knowledge of the matter told Reuters.
When any of the state tenders are awarded, the firm selling the commodity asks for the issuance of a letter of