Cabinet approves lifting energy subsidies in 5 years: official
Minister Of Electricity Mohamed Shaker - YOUM7/Sami Waheeb
By THE CAIRO POST

CAIRO: The Cabinet approved Thursday to lift energy subsidies gradually within five years starting this July, without affecting the low-income class, said Minister of Electricity and Renewable Energy Mohamed Shaker, Mubasher reported.

“The Ministry put into consideration the social dimensions for the middle and low classes in its new plan for restructuring electricity prices,” he said.

Although the subsidy is scheduled to be completely lifted within the next five years, he said the ministry would continue pumping 9.1billion EGP ($1.27 billion) in subsidies for the low and middle-class citizens, as well as for irrigation purposes, Mubasher reported.

Prime Minister Ibrahim Mahlab announced Thursday the government would ration subsidies and face the energy crisis “whatever it costs us,” Al Masry Al Youm reported.

Petroleum expert Engineer Medhat Youssef told al-Dostor Wednesday that decreasing the energy subsidy is disappointing and that the minister’s announcement “lacked political and social awareness,” adding that the decision caused a run on gas stations to get fuel before an increase.

 

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