5 July 2014

Egypt: Mahlab - Foodstuffs Will Not Be Affected By Fuel Price Increase

Prime Minister Ibrahim Mahlab said that raising the prices of fuel will not have any impact on prices of foodstuffs, adding that merchants and owners of passenger transport companies asserted to him that the margin of raising tariff prices will be limited.

He noted that re-orienting subsidies together with re-drawing up of a new map for the Egyptian economy will increase the number of citizens benefiting from social solidarity to three millions.

Premier Mahlab had reviewed efforts for cutting down the budget deficit which negatively affects the current conditions and the future of the coming generations and increasing their burdens which could be controlled through taking some measures which aim at redressing distortions in the budget and the big imbalance in the items of spending on fuel subsidy.

Mahlab said increasing prices of fuel is a measure aiming at redressing these distortions and streamlining the subsidy system with the aim of using these saved funds in financing other sectors such as health, education and slums.

Eng. Mahlab urged the sons of the Egyptian people to rally together and understand the challenges of the current stage and support the government in its reform measures in all fields.

He stressed the importance of activating the role of the civil society in eliminating corruption and confronting all its forms.

During a Cabinet meeting, the Prime Minister stressed the need for all to understand the nature of the current stage, as all studies conducted to this effect indicate that the rate of increase will range from 5-10% of the current tariff.

An agreement was also reached with drivers' representatives on announcing new guiding lists of passenger transport tariffs adding that campaigns will be intensified with the aim of eliminating haphazard parking lots and applying law to all violators.

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