CAIRO: The oil smart card system will be implemented in Cairo, Giza and Qalyubia within two weeks, Managing Director of E Finance Firm Khaled Abd Al Ghany stated Tuesday.
The system aims to limit abuse of oil subsidies, and tracks subsidized purchases, requiring any person who exceeds the limit to pay the market price.
“Media outlets will announce soon about the schedule of distributing the cards in the different traffic directorates,” Abd Al Ghany said in a press statement.
E-finance officials said in press statements five days ago, that the cards would will be ready to use by mid-June, as the firm had printed around 3.7 million cards, of which 1.2 million were distributed in 17 directorates excluding Cairo, Giza and Qalyubia.
The move comes in the light of a government plan to lift subsides gradually. In July 2014, Egypt lifted the subsides over oil to individuals and factories causing major price hikes, which sparked the rage of many locals especially that the decree was issued after one month into President Abdel Fatah al-Sisi’s administration.