Egyptian President Mohamed Morsi revoked his decision to increase taxes on some commodities and services and assigned the government to start a public societal dialogue on these measures so that the citizen will not bear any further burdens.

In a statement issued late on Sunday 9/12/2012, Morsi said he had put on measures to raise sales taxes on a wide range of consumer goods and services which he has taken early Sunday.

"Out of his awareness of the burdens of this difficult economic stage on simple citizens, the president decided to halt the implementation of tax raise measures and assigned the government to hold a societal dialogue to see how far these measures are accepted by the public opinion," the statement said.

Among other products, sales taxes were increased on steel, cement, soft drinks, beer and cigarettes. Morsi has already reduced subsidies on butane gas and electricity as part of a government austerity program.