• 18:27
  • Tuesday ,24 June 2014
العربية

PM says not reforming subsidy system is treason

By-egyptindependent

Home News

00:06

Tuesday ,24 June 2014

PM says not reforming subsidy system is treason

Prime Minister Ibrahim Mehleb said on Sunday that the Egyptian government is determined to carry out financial and economic reform. 

"The current subsidy system cannot continue with its current defects," he added. “Not reforming it is a form of treason to the nation.”
 
"The subsidy will cover 20 new commodities," Mehleb added.
 
Meanwhile, Supplies Minister Khaled Hanafy said that the commodities include meat, poultry, fish, legumes and other products.
 
Consumers will be able to purchase whatever they need within a set value.
 
The new system aims to address the complaints of citizens about the low quality or shortage of commodities.
 
Regarding the energy subsidy system, the Cabinet said on Monday that mulling the electricity tariff structure for all users, including industrial, agricultural, trade and household has been set.
 
The restructuring aims to gradually remove the subsidy on energy in five years, while considering low-income individuals. 
 
Approximately 650 megawatts will be added to the power grid by operating two new units in North Giza and 6 October stations.
 
The 2014-2015 budget includes a reduction on energy subsidies and a 10-percent increase in food subsidies.