Official arrested for embezzling subsidy funds

CAIRO – 7 June 2017: The Ministry of Interior arrested an official in the supervising company of the subsidized bread system in Kerdasa area of Giza on Wednesday, Youm7 reported. The official is accused of embezzling LE 1.2 million ($66,216) from the subsidy system’s funds.

Investigations revealed that the accused bought a 2017 car with the embezzled funds.

According to Reuters, the Supply Ministry provides a premium to farmers of LE 15 ($0.83) per ton for wheat stored and transported in jute bags and LE 10 per ton for wheat stored in silos located far from production areas with over 50 percent empty storage capacity.

Egypt consumes 9.5 million tons of wheat to make its subsidized bread: 4 million tons from the local harvest and 5.5 million tons from imported wheat.