'Smart cards' will not lead to fuel price rise in Egypt - Minister
The main aim behind the intoduction of the card system is the fair allocation of subsidised fuel and not raising its prices, the minister said.
The minister denied media reports that the government would raise gas prices coinciding with the implementation of the 'smart card' system.
He noted that the prices that were announced in several newspapers are estimates of the cost price of fuel products before being subsidised.
"Prices outside of the specified subsidised quotas will be decided upon implementation of the new system", explained Kamel.
The quotas, which will be implemented through a card system guaranteeing drivers a specific amount of subsidised fuel, are due to start in April just as the country is set to hold parliamentary elections.
- Oman’s Duqm tourist complex moves forward with government approval
- Kuwait fights budget deficit: Reexamining government salaries, expatriate labor
- Tunisian Confederation of Industry, Trade, and Handicrafts fights nationwide unemployment levels
- Construction costs fall in Dubai
- Western tourists flock to Iran, could generate $30B in new revenue
- The not-so-smart approach: Libya to introduce smart card system to cut fuel subsidies
- Egypt to raise fuel prices
- Black market fuel trade on the rise in Egypt
- Egypt considers postponing fuel subsidy smart card system: state media
- A potent mix: Egyptian government scores early success with smart cards for bread subsidies