21 November 2012

Egypt: Petroleum Minister - Petroleum Products Subsidies Remain Unchanged

Minister of Petroleum Osama Kamal asserted that it is high time to open the file of petroleum subsidies to clear it from the negative aspects after having been exploited by profiteers and beneficiaries.

The purpose of opening such a file was not to increase the prices of petroleum products or infringing upon the subsidies allocated for the deserved brackets of the society, said the Minister.

The aim is to re-channel the subsidies to the targeted categories and those who really deserve them, Kamal said.

There is no intention at all to stop subsidy, said Kamal, pointing out that the current position of the subsidies' array was inverse.

Rationalization of the petroleum products' subsidy, particularly, butane gas, diesel oil and gasoline will eventually redirect it to the real deserving categories, affirmed the Minister. There is absolutely no relation between restructuring at the petroleum products and the current negotiations between the government and the International Monetary Fund, he added.

Copyright © 2012 Egypt State Information Service. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com). To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

AllAfrica publishes around 2,000 reports a day from more than 130 news organizations and over 200 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.