Egypt to start rationing subsidised fuel in July

On February 12, the minister said that the smart cards would be implemented between April and July.

Egypt to start rationing subsidised fuel in July

World Bulletin / News Desk

Egypt will implement its delayed plans to ration subsidised fuel through a system of smart cards at the beginning of July, the country's minister of petroleum and mineral resources said on Monday.

Egypt's government is in the process of reforming subsidies in order to cut its budget deficit and secure a $4.8 billion loan from the International Monetary Fund, which is crucial to support its ailing economy.

"We are working, as part of the programme, to implement it at the beginning of the new financial year (in July)," Osama Kamal said, when asked about the smart cards, in an interview broadcast on Egyptian channel CBC.

The quotas, to be implemented through a system of cards allowing drivers a limited amount of subsidised fuel, were due to start in April, just as the country is set to hold parliamentary elections.

On February 12, the minister said that the smart cards would be implemented between April and July.

Last Mod: 19 Şubat 2013, 15:52
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