Cutting fuel subsidies falls within gov't
Petroleum Minister Tareq el Molla
Cairo - MENA
Petroleum Minister Tareq el Molla said new measures taken to cut fuel subsidies fall within the government platform presented to the parliament.
Speaking at a press conference on Thursday, with Prime Minister Sherif Ismail attending, the minister said there is a plan to reduce spending on fuel subsidies by nearly EGP 35 billion in the 2017/2018 budget.
Despite the recent measures taken by the government, the state is still spending more than EGP 100 billion on fuel subsidies, Molla said.
The minister stressed the fuel prices do not reach the real cost price despite this increase.
Source: MENA
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