Last Update 0:15
Wednesday, 23 October 2019

Fuel smart cards distributed to 56% of vehicles in Egypt so far: Card issuer

Ahram Online , Friday 29 Jan 2016
petrol station
A worker fills the tank of a car at a petrol station in Cairo, March 12, 2013 (Reuters)
Share/Bookmark
Views: 2619
Share/Bookmark
Views: 2619

Egypt's government has distributed 3.2 million smart cards for fuel rationing to vehicles, out of a total of 5.7 million vehicles countrywide, the head of card issuing company E-finance, Ibrahim Sarhan, was quoted as saying by Al-Ahram newspaper on Thursday.

Some 14,000 tuk-tuks, widely used in streets unreachable by public transportation, have also recieved their smart cards.

The smart card system aims to crack down on smuggling and reduce the energy subsidy bill in the state budget.

President Abdel-Fattah El-Sisi postponed the implementation of the system last June to ensure that all sectors that need the cards are covered, including farmers, fishermen, tuk-tuk drivers and other vehicles.

In mid-2014 the government cut fuel subsidies, raising prices at the pump by up to 78 percent in a politically sensitive move that aimed to restructure imbalances in the state budget.

The fuel smart card is designed to be used for health insurance and fertiliser distribution as well, said Sarhan.

Egypt's subsidy bill for the fiscal year 2014/15 hit LE74 billion and is targeted to shrink to LE61 billion, according to the ministry of finance.

Short link:

 

Email
 
Name
 
Comment's
Title
 
Comment
Ahram Online welcomes readers' comments on all issues covered by the site, along with any criticisms and/or corrections. Readers are asked to limit their feedback to a maximum of 1000 characters (roughly 200 words). All comments/criticisms will, however, be subject to the following code
  • We will not publish comments which contain rude or abusive language, libelous statements, slander and personal attacks against any person/s.
  • We will not publish comments which contain racist remarks or any kind of racial or religious incitement against any group of people, in Egypt or outside it.
  • We welcome criticism of our reports and articles but we will not publish personal attacks, slander or fabrications directed against our reporters and contributing writers.
  • We reserve the right to correct, when at all possible, obvious errors in spelling and grammar. However, due to time and staffing constraints such corrections will not be made across the board or on a regular basis.
Latest

© 2010 Ahram Online.