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EGP 3bn for Ministries of Supply, Transport, and Electricity: Minister of Finance - Daily News Egypt

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EGP 3bn for Ministries of Supply, Transport, and Electricity: Minister of Finance

Finance to be given to enhance efficiency of the electricity distribution network to renewable energy power plants


Finance to be given to enhance efficiency of the electricity distribution network to renewable energy power plants (AFP Photo)
Finance to be given to enhance efficiency of the electricity distribution network to renewable energy power plants
(AFP Photo)

As part of government efforts to provide better public services, Finance Minister Hany Kadry Dimian approved a financial package worth over EGP 3bn for the Ministries of Electricity, Supply, and Transport.

Public Budget head Mohamed Abdel Fattah said that the grants include EGP 2bn to develop the electricity network nationwide to operate using new and renewable energy power plants, particularly solar and wind energies. The private sector has been permitted to participate in both constructing and supplying electricity through the national electricity network, he said. He also pointed out that the financial allocations will be directed toward increasing the network’s ability to carry and distribute larger loads of the current production volume.

He added that approvals from the Minister of Finance include approximately EGP 1.7bn for the Ministry of Supply to make available to the General Authority for Supply Commodities (GASC). Of this amount, EGP 500m will be used to repay dues owed to bakeries based on the new bread system. Another EGP 750m will go toward the value of subsidy ration cards, and EGP 475m to importing 235,000 tonnes of wheat.

He said that the Ministry of Finance also made around EGP 30m available for the Public Transport Authority in Cairo in to cover the second instalment of a contract to supply 150 public buses for the authority. Abdel Fattah said that the ministry had paid EGP 50m for the first instalment which brings the total transferred to around EGP 80m, and the number of buses received 80. The project has enhanced the public transport fleet that serves citizens of the Greater Cairo area.

Abdel Fattah said the Minister of Finance also approved EGP14.9m to the Supreme Council of Journalism for a training and technology allowance for journalists who are members of the syndicate. This comes in addition to the public budget’s contribution to raises granted in 2008. He said that the Ministry of Finance has already transferred approximately EGP 89.4m to the council during the first half of the FY 2014/2015, adding these amounts are transferred at the beginning of each month so that the council can make it available to various agencies.

 

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https://www.dailynewsegypt.com/2014/12/16/egp-3bn-ministries-supply-transport-electricity-minister-finance/
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