Egypt has spent around EGP 56.5 million as green stimulus, shouldered by the state’s public treasury, on the implementation of the initiative of converting the petrol-powered vehicles to run on natural gas since April, Minister of Finance Mohamed Maait, declared.
Upon presidential directions, the Egyptian government works on accelerating the initiative to expand the cars’ conversion beneficiaries. Hence, Egypt has eased the procedures for citizens to replace their old cars with new ones, with unprecedented credit facilities.
The new cars have the facility to be fueled with compressed natural gas (CNG).
The ministry of finance is coordinating with both the Ministries of petroleum and industry and trade to do the required technical checks on the new cars to ensure they meet the technical standards.
Maait highlighted the growing turnout of the participants in the initiative, adding that taxis and personal cars that met the standards for the initiative reached 44,094 vehicles.