Fuel Smart Card System to Provide10 Litres a Day

Fuel Smart Card System to Provide10 Litres a Day

An Official Source at the Egyptian General Petroleum Corporation  stated to Egypt Oil&Gas that Sherif’s Cabinet agreed on allocating ten liters of subsidized fuel a day for each citizen registered in the smart card system, which is responsible for providing subsidized gasoline and diesel to gas stations across the country.

The source also added that the Egyptian government continues to implement the energy subsidies cut plan gradually during the next three years.

He also mentioned that some sovereign authorities are considering postponing raising fuel prices temporarily, until starting third phase of the smart card system. The source noted that the Ministry of Petroleum will intensify efforts during the coming period to implement  the production and development plan of local refineries starting from April 2017 till 2019, worth $8b and will save at least $2b of petroleum products imports per year.

Mahinaz El-Baz 312 Posts

Mahinaz El Baz received her MSc degree in Foreign Trade Economics from Helwan University in 2016. She has two years of experience in journalism and four years of experiance in economic analysis. She received the "Best Economic Article Award" in 2016 from CFA Society Egypt.

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