Smart Cards Manager at E-Finance, Khaled Abdel Ghany, stated to Egypt Oil&Gas that the number of Egyptian citizens who have applied for fuel smart cards reached 5.5m in January, out of 6.5m of eligible beneficiaries.
In February 2017, tractors and motorcycles will finalize issuing licenses from the traffic department. Abdel Ghany urged tractors and motorcycles owners to visit their traffic departments as soon as possible in order to obtain vehicle licenses and apply for fuel smart cards accordingly.
While the information about the amount subsided per citizen vary between seven to ten liters, Abdel Ghany was unable to confirm the data for the vehicle licenses through the fourth phase of launching the fuel smart cards program.
According to E-Finance Smart Cards Manager, Phase 3 of the plan is estimated to save around EGP 26b per year, which is approximately the same amount cashed in through fuel black market and smugglers.