Parliament’s planning and budget committee has rejected proposals by a number of MPs to raise the price of subsidized 92 and 95 octane petrol to be sold at cost.
“It isn’t the right time for such a move,” said committee head and ruling party stalwart Ahmed Ezz.
Members of the committee instead agreed to allocate another LE33 billion to subsidize petroleum products and natural gas.
“Small gas cylinders cost LE43.8 each and are sold to consumers for LE2.65; a ton of mazut costs LE1869 and is sold for LE1000; and a cubic meter of natural gas costs LE0.5 and is sold for between LE0.1 and LE0.3,” Ezz explained.
Translated from the Arabic Edition.
