Oil products subsidy over past 5 years hit EGP 517bn: Minister

CAIRO -16 June 2018: Minister of Petroleum Tarek el Molla on Saturday said that the total cost of oil products subsidy over the past five years hit 517 billion pounds.

In a released statement, he added that those who really deserve this subsidy did not benefit from that system.

He added that the subsidy system was a negative factor regarding social justice as several segments of high income benefit from this system.

Meantime, several other segments whose income is less did not benefit from the subsidy, he explained.