3.9 b EGP to subsidize ration card commodities: Finance Minister
Finance Minister Hani Kadry - YOUM7 (Archive)

CAIRO: Minister of Finance Hani Kadry announced in a statement the allocation of 3.9 billion EGP ($ 550 million) to provide the required primary subsidized commodities, Mubasher reported Thursday.

The allocation includes 1 billion EGP to subsidy the commodities included in the new ration card system during the month of July along with 470 million EGP to repay the due debts of Ramadan additional subsidized commodities, according to the statement.

The government approved an additional 7 EGP allocation per person at the ration cards during the Fasting Month of Ramadan in addition to the defined 15 EGP for already included in the system.

Supply Minister Khalid Hanafy announced Thursday the ministry would increase the quantities of commodities along with increasing the cash supply per person, Masrawy reported Thursday.

During the month of July, Egypt’s new ration card system faced several problems including lateness in delivering the commodities; shortage at the quantities supplied along with the lack of refrigerators to preserve the subsidized commodities, Youm7 reported July23.

Of the 2014-15 Fiscal Year Budgets, The Ministry of Finance kept 13.5 billion EGP for subsidizing the commodities in its new ration card system, it stated, pointing out that 66.7million people benefit from the new system through 18.9 million ration cards, Akhbar Al Youm reported in July 3.

Starting from July, Egypt’s supply ministry applied a new system of primary commodities distribution in which it increased the subsidized goods presented to the citizens to twenty instead of 3 ”sugar, oil and rice” in its old ration card system, Al Borsa Business daily reported July2.

“In the new ration card system, people are allowed to choose from a wide range of commodities including milk, fruits and vegetables, according to each family’s needs with total value up to 15 EGP per person per month,” Supply Minister Khaled Hanafy was quoted as saying by Al Borsa Business daily.

Recommend to friends

Leave a comment