Daily News Egypt

EGP 500m extra subsidy for supply commodities in Ramadan: Finance ministry - Daily News Egypt

Advertising Area



Advertising Area




EGP 500m extra subsidy for supply commodities in Ramadan: Finance ministry

EGP 5bn to agricultural credit and supply commodities to finance purchasing local wheat, says budget director


Ministry of Finance is set to review the final draft of Egypt’s economic reform programme set to precede the acceptance of the country’s pending $4.8bn International Monetary Fund (IMF) loan. (Daily News Egypt)
The Ministry of Finance has allocated EGP 500m as an additional subsidy for the commodities of the ration cards during the holy month of Ramadan.
(DNE File Photo)

The Ministry of Finance has allocated EGP 500m as an additional subsidy for the commodities of the ration cards during the holy month of Ramadan.

This is within the EGP 6.7bn offered by the Ministry of Finance to the Ministry of Supply for several purposes, according to Mohamed Abdel Fattah, director of the budget department at the finance ministry.

“The Minister of Finance has agreed to provide EGP 6.7bn to the Ministry of Supply, including EGP 5bn to the Bank of Agricultural Credit and the General Authority for Supply Commodities to finance purchasing local wheat,” according to Abdel Fattah, Monday.

“The total amounts that have been transferred to the Ministry of Supply and Internal Trade since the supply door was opened mid-May reached about EGP 10bn,” according to the Ministry of Finance statement, Monday.

The allocations of Ministry of Supply also include EGP 1bn, a subsidy value for ration cards’ commodities for May, and EGP 500m and the value of additional subsidy to ration card commodities for the month of Ramadan, added Abdel Fattah.

This is also in addition to EGP 200m to repay the sugar company for the price difference of providing sugar cane from the farmers.

Those amounts, which the Ministry of Finance agreed to provide to the Ministry of Supply, are within the EGP 7.1bn allocated for the ministries of transport, investment, local development and the Supreme Press Council, according to the Ministry of Finance statement.

EGP 165.7m were provided for the Ministry of Petroleum to repay gas delivery companies after delivering gas to 78,661 housing units.

The Ministry of Finance had also provided EGP 88.5m to the Ministry of Investment represented in the restructuring fund in the public business sector. The amount was provided to pay for the wages of the spinning companies’ workers. Another EGP 72.5m was given to the Ministry of Transportation as a subsidy for the students’ subscriptions to railway and the non-economic railways in the authority.

The Ministry of Finance has also approved providing EGP 17m to the Supreme Press Council to meet the increasing value of training and technology for reporters, administrators and workers in the national, party and independent newspapers from the beginning of March 2015.

The Ministry of Finance also provided approximately EGP 1.8m to the Ministry of Local Development to repay the dues of the cleaning companies in the provinces of North Sinai and Port Said.

 

Advertising Area

Advertising Area



https://www.dailynewsegypt.com/2015/06/01/egp-500m-extra-subsidy-for-supply-commodities-in-ramadan-finance-ministry/
Breaking News

No current breaking news

Daily News Egypt Android App Available for free download on Google play
View
Daily News Egypt Ios App Available for free download on APP Store
View