MPs Question Gas Price Increases

MPs Question Gas Price Increases

Parliament members requested on June 22 to send a letter to Prime Minister Mostafa Madbouly and Minister of Petroleum Tarek El Molla asking them to explain the reasons behind the latest increase in natural gas prices, Al Mal reported.

The government announced on June 21 that it would increase natural gas prices by up to 75% starting from the beginning of August.

All consumption tiers will be increased by EGP 0.075 per cubic meter: rates for up to 30 cubic meters will rise to EGP 0.175, prices for 30-60 cubic meters will increase to EGP 0.250, while customers consuming more than 60 cubic meters will pay EGP 0.300 per cubic meter.

Rep. Amr El Gohary told Al Mal that many members of parliament are questioning to decision to raise prices, despite the country moving towards natural gas self-sufficiency by the beginning of 2019.

MP Abdel Hamid Kamal, representative from Suez governorate, pointed out that the price increases were unconstitutional because the government has not received the parliament’s approval.

The head of the bakeries division in the Cairo Chamber of Commerce, Attia Hammad, is meeting today with the Minister of Supply Aly El Meselhi to discuss the impact of the price hike on the price of subsidized bread, Al Mal reported.

Hammad told Al Mal that the government should subsidize the cost gap caused by the price increase, as it did to cover the diesel price increases in June.


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