The Parliamentary Committee on Industry is considering proposals for re-pricing the natural gas sold to industrial purchasers and eliminating the property taxes on factories, Al Shorouk Newspaper reports.
The committee has opened the inquiry after receiving a number of complaints and requests from industry figures.
Ahmed Samir, the Head of the Committee on Industry, announced the committee’s deliberations on the repeal of property taxes for factories as part of an effort to decrease manufacturing costs and encourage domestic production. He noted that, in addition to property taxes, manufacturers’ profits are also taxed.
Decreasing industrial prices for natural gas is another objective of the industrial sector.
Many factories are now working at half capacity due to the challenges confronting Egypt’s manufacturers, Soby Nasr, a member of the Businessmen Association, told Al Shorouk.