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Égypt-actus
revue de presse sur l'actualité culturelle, archéologique, politique et sociale de l'Égypte
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Egypt to delay fuel subsidy rationing

Egypt to delay fuel subsidy rationing | Égypt-actus | Scoop.it
Egypt-actus's insight:

(Reuters, via Aswat Masriya) - Egypt's government will delay by up to three months a rationing of subsidised fuel initially set for April as part of austerity measures to secure a $4.8 billion loan from the IMF, its oil minister said on Tuesday.

The quotas, to be implemented through a system of smart 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.

"The usage of smart cards for petroleum products will be implemented in the period between April and July," Minister of Petroleum and Mineral Resources Osama Kamal told reporters on the sidelines of an industry event.

The Islamist-led administration that took office in July vowed to push through a reform of subsidies, which swallow as much as a quarter of the state budget, to lower its deficit but is reluctant to hurt voters.

It eliminated subsidies on 95-octane gasoline, the highest grade available, late last year, prompting many motorists to switch to subsidised lower-octane fuel.


More : http://en.aswatmasriya.com/news/view.aspx?id=8c4ea960-8c31-478d-81bf-36aefc5308c6

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Government approves a new smart card system for subsidised fuel

Government approves a new smart card system for subsidised fuel | Égypt-actus | Scoop.it
Egypt-actus's insight:

By Ahmed El-Masry/Daily News Egypt

 The government recently approved a new “smart card” system for subsidised fuels proposed by the ministries of finance and petroleum, in an attempt to help guide the allocation of subsides to those who need it most.

The new plan would charge the ministries of petroleum and mineral resources, represented together in the General Petroleum Authority, with implementing and overseeing the new “smart card” programme for the National Bank of Egypt (NBE) and Ahly banks.

Contracts were awarded to these two government banks, without holding a bidding process, in order to help quickly implement new laws before March 2013 so that they can take affect by April. This, according to sources, was in the best interest of the government.

A committee hosting representatives from the Central Bank in addition to the country’s petroleum, finance, administrative and development ministries, called for either one or both banks to administer and oversee the smart card programme.

 

More : http://www.dailynewsegypt.com/2013/01/29/government-approves-a-new-smart-card-system-for-subsidised-fuel/

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