Energy subsidies will be gradually lifted in the coming three years, raising the price of energy except for factories that have a social dimension, said Hatem Saleh the minister of industry and foreign trade.
“The state bears a heavy bill in supporting the energy sector,” Saleh pointed out, on the sidelines of the Ministry of Finance’s 2nd Annual Public Private Partnership (PPP) Investment Summit, Sunday. “And it is seeking to restructure it through multiple agreements with different economic sectors in order to put forward a plan aiming to reach a fair price for energy.”
He added that the Ministry of Industry currently has 11 licences for cement plants ready to be offered, but which have so far been stalled due to lack of energy supplies, highlighting the ministry’s reticence to offer licences for energy-intensive factories in the light of energy scarcity
Mohamed Salah | Daily news Egypt