Finance Ministry allocates 1.95 billion EGP for subsidies
YOUM7 (Archive)

CAIRO: The Ministry of Supply and Internal Trade has received 1.95 billion EGP ($272.67 million) from Egypt’s Finance Ministry as a first installment for the provision of  subsidized goods required for the new subsidy system,  deputy head of the General Authority for Supply Commodities Mamdouh Abdel Fattah said in a Monday press statement, Youm7 reported.

“The Finance Ministry will pump around 1.95 billion EGP to the Holding Company for Food Industries, public and wholesale outlets in order to purchase the 20 food commodities which are mentioned in the new subsidy system announced by Minister of Supply Khaled Hanafy in March,” Fattah said.

The Ministry of Supply applied a new system for food subsidies in July, including 20 new food commodities from the public and private sector.

“The new commodities include meat, fish, poultry, bean products and cleaners,” Hanafy said in a June statement.

Fattah added that the Ministry of Supply had agreed with the National Poultry Company to provide 700 tons of meat and poultry on ration cards among the new products.

“This quantity includes 600 tons of chicken breast in addition to 100 tons of full chicken that will be available in the subsidized complexes at lower prices,” Fattah said. People who have the ration cards can get 15 EGP worth of subsidized commodities free of charge each month.

The Ministry of Supply in cooperation with the Ministry of Social Solidarity will also provide 200,000 poor families with ration cards and cancel the cards of those who do not need them, Al-Mal reported on July 14.

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