28 January 2013

Egypt: Petroleum Minister - Subsidy System On Time

Minister of Petroleum Osama Kamal denied on Sunday 27/1/2013 reports on postponing the smart cards subsidy plan devised by the government and scheduled to be implemented as of April, pointing out that the plan has no relation with the current events, "the incumbent government has no political objectives and our economic calculations work only in favor of the public interest to ensure that services reach everyone," the minister said.

This came at a press conference held by the minister during inaugurating a state-of-the-art unit for storing oil by-products in Badr city.

However an official source with the petroleum ministry said that oil-laden vehicles were denied entry of Port Said due to the closure of streets and roads on the backdrop of the current political events and acts of violence.

The source added that meetings were held by board chairmen of oil companies and labs in the Suez Canal region to devise a plan to safeguard the oil warehouses.

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