Speaking at the annual Egyptian Family Iftar held at the Air Force House in Cairo, President El-Sisi said the state must ensure a steady supply of petroleum products needed to operate electricity stations and factories while avoiding continued reliance on foreign-currency borrowing to finance these requirements.
The Egyptian Family Iftar was attended by senior state officials, including Prime Minister Mostafa Madbouly, Speaker of the House of Representatives Hesham Badawi, Defence Minister Ashraf Salem Zaher, and Coptic Orthodox Pope Tawadros II, along with ministers and representatives from various segments of Egyptian society.
The president acknowledged public concerns over the recent rise in petroleum product prices, saying the government is fully aware of the pressures facing Egyptian citizens.
He said the decision was difficult but necessary to avoid more severe consequences, noting that Egypt consumes petroleum products worth roughly $20 billion annually, most of which is used to operate electricity and power plants rather than transportation.
El-Sisi added that regional instability had also affected national revenues, revealing that Egypt lost around $10 billion in income from the Suez Canal in recent years, equivalent to about EGP 500 billion.
The president stressed that the government remains committed to avoiding increases in the prices of essential goods and continues to monitor markets closely to prevent exploitation.
He instructed authorities to strictly enforce regulations against price manipulation, warning that anyone proven to be exploiting consumers would face legal accountability and could be referred to a military trial.
At the same time, the president stressed that the state remains committed to protecting vulnerable groups, noting that the government has been instructed to accelerate the launch of a new social protection package for low- and middle-income households.
President El-Sisi also emphasized the importance of national unity amid regional turmoil.
El-Sisi stressed the importance of transparency in communicating government policies to citizens, urging officials to clearly explain decisions and economic realities to the public.
He said the government is open to receiving well-considered proposals that could help address national challenges and emphasised the need for unity among Egyptians amid the changing regional landscape.
“We must stand together and remain vigilant, because the region is changing, and some countries are being lost due to miscalculations,” El-Sisi said.
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