Egypt has raised tariff rates on a wide range of imports, the official Gazette said on Sunday, according to a decree published in the national gazette. The decree, dated January 26, published a list of hundreds of products ranging from food and clothes to toiletries and electric equipment. The new tariffs will be implemented on Monday 1 February. The document did not say how much the tariffs were raised by, but it listed products with tariffs starting from 5-40%. Head of Egypt's customs authority Magdy Abdel Aziz said customs on household appliances, electronic devices, clothing, shoes, crystal, and plastics increased from 30-40%, estimating potential revenue of USD128 million in 2H2015/16. Customs tariffs were raised by as much as 100% on items such as some fruits and nuts, while duties on other goods were increased by25% to 50%. Ahmed Shiha, head of the importers' division at the Cairo Chamber of Commerce, was skeptical about the decision, saying that the tariffs could discourage imports. "This is just the latest in a series of attempts to prohibit imports," Shiha said.   The measures come in line with previous aims in a broader framework where authorities aim to utilize import rationalization to boost domestic industry and redirect dwindling foreign exchange resources towards basic and productive sectors in the economy. We estimate the various measures imposed to limit imports of USD2.5-4 billion, representing c5-8% of total non-oil imports. Such savings could potentially cut the current account deficit by c20% though we see potential savings at a lower magnitude as additional liquidity is likely to be utilised by other sectors to meet their liquidity shortfalls. (Reuters, Mohamed Abu Basha)