An EGPC source revealed to Egypt Oil & Gas details of new plans to rationalize energy subsidies for the current budget without raising fuel prices in the local market. The aim of the plans is to eliminate a budget deficit in the coming year.
The source explained that these mechanisms include more efficient collection of revenue from petroleum product sales to citizens in the local market. Another measure is universalizing the usage of coal for the energy-intensive and medium intensive industries, to take place during the third quarter of the current fiscal year. Finally, the EGPC will realize the execution of the LPG coupons project in 2016.
The Egyptian government has set EGP96b for energy subsidies in the current state budget.