Electricity - Dodi via Flickr
CAIRO – 20 July 2018: The Egyptian Cabinet Information and Decision Support Centre (IDSC) on Friday denied reports published by social media on the government's plans to increase prices of electricity.
In a released statement, the center said that it contacted the Ministry of Electricity and Renewable Energy which dismissed these reports as groundless.
There will be no increase in electricity prices for the current fiscal year which will end on June 6, 2019, it added.
The ministry added that it works on replacing the old electricity meters with pre-paid electricity meters, in order to help citizens rationalize their consumption and avoid complains about electricity bills. So far, 5.7 million pre-paid electricity meters were installed.
CAIRO - 12 June 2018: Minister of Electricity Mohamed Shaker announced Tuesday in a press conference new hikes in electricity prices. According to Shaker, the overall increase does not exceed 26 percent, while the average hikes in bills for housholds amount around 24 percent.
Minister of Electricity Mohamed Shaker announced in June in a press conference new cuts to its electricity subsidies which led to new hikes in electricity prices.
According to Shaker, the overall increase does not exceed 26 percent, while the average hike in bills for households amount to around 24 percent.
The minister also affirmed that the new hikes save the country from potential losses that could reach LE 109 billion.
He added that users of the first bracket of the housing segment only bear 18 percent of the total cost of the bill; as they pay LE 12 while the actual bill costs LE 65.
The new prices, according to the minister, come as part of the government’s economic reform program, and they were effective as of July 1.
Egypt is committed to deep cuts to energy subsidies as part of a three-year $12 billion IMF loan program it began in late 2016.
CAIRO - 13 June 2018: President Abdel Fatah al-Sisi called on Egyptian people to unite against economic challenges that Egypt witnesses, saying that Egyptians have to suffer in order for Egypt to be a developed country. During the Egyptian Family Iftar ceremony held on Tuesday, President Sisi said that serious and hard work is the only way to achieve the state's aspirations.