egypts cabinet dismisses reports on new fuel prices increase
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Egypt's cabinet dismisses reports on new fuel prices increase

Arab Today, arab today

Arab Today, arab today Egypt's cabinet dismisses reports on new fuel prices increase

Vehicles queue at a petrol station (Photo: Reuters)
Egypt - Arab today

The Egyptian cabinet has dismissed media reports about a new wave of fuel price hikes or limiting individuals' shares of subsidised petroleum products after the government's decision to implement the fuel smart card system.

 

The Egyptian's cabinet Information and Decision Support Center (IDSC) said on its website on Tuesday that it communicated with officials in the petroleum ministry who described reports of fuel prices increase as "inaccurate."  

Egypt began a trial run for the fuel smart card system on Sunday, with official assurances that the system does not limit individuals' share of subsidised fuel.

The fuel card system at Egyptian gas stations is part of a governmental programme to prevent the leakage of subsidised petroleum products onto the black market and into the hands of smugglers.

In 2014, the government embarked on an economic reform programme to phase out energy subsidies in an attempt to curb the growing state budget deficit, which is estimated at 12.3 percent in the fiscal year 2015/16.

On 3 November 2016, prices rose up between 35 to 50 percent for all kinds of fuel, after the central bank's decision to float the Egyptian pound.

The government plans to trim the petroleum subsidy bill in the 2016/17 budget by 43.5 percent to reach EGP 35 billion. The state budget was approved by parliament in July

Source: Ahram online

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

egypts cabinet dismisses reports on new fuel prices increase egypts cabinet dismisses reports on new fuel prices increase

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

egypts cabinet dismisses reports on new fuel prices increase egypts cabinet dismisses reports on new fuel prices increase

 



GMT 21:16 2016 Monday ,27 June

Zaki Badr discusses cleaning problem in Giza

GMT 21:46 2017 Saturday ,14 January

Turkey arrests 60 businessmen for alleged Gulen ties

GMT 22:38 2017 Friday ,24 March

Abbas meets with Merkel in Berlin

GMT 09:02 2017 Monday ,27 March

Tunisian Premier Concludes Visit to Sudan

GMT 15:54 2017 Friday ,01 September

Attorney General Directs Prosecutors to inspect Prison

GMT 09:22 2017 Sunday ,31 December

HM King condoles with Afghanistan President

GMT 10:12 2016 Wednesday ,06 April

Strong dollar, mild weather shrink H&M profits

GMT 17:03 2016 Saturday ,24 December

7 police killed in attacks in Afghansitan

GMT 13:51 2017 Friday ,17 March

Israel denies Syria shot down a warplane

GMT 04:08 2017 Thursday ,05 January

Carbon tax can fund clean energy transition

GMT 19:27 2016 Wednesday ,14 September

Alstom to go ahead with plans to shut down Belfort plant

GMT 01:44 2017 Friday ,15 December

Mennat-Allah underlines importance of landscapes

GMT 04:57 2017 Thursday ,14 December

Trump tells NASA to send Americans to Moon

GMT 21:43 2017 Wednesday ,11 October

Qabil discusses with Swiss delegation improving power

GMT 21:06 2017 Sunday ,17 September

OIC condemns suicide attack in Kabul

GMT 08:27 2017 Thursday ,27 April

Nokia reports another loss as networks sag

GMT 19:41 2017 Monday ,06 February

Elina Svitolina Claims Taiwan Open Title

GMT 09:39 2017 Friday ,03 February

Former Brazilian president Lula's wife dies of stroke
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday