Egypt’s Minister of Finance Mohamed Maait has revealed that President Abdel Fattah Al-Sisi has mandated for the expanded base of those benefiting from the presidential initiative to replace vehicles.
This would ensure more can benefit from exchanging their current vehicles, whether passenger cars or taxis, with other new cars running on dual fuel (gasoline and natural gas). This also comes in line with the state’s strategy of promoting locally manufactured products.
Maait indicated that EGP 2.1bn has been allocated in the budget for fiscal year (FY) 2021/22, which will go towards financing the first phase of the presidential initiative.
This aims to replace 250,000 cars in the governorates of Cairo, Giza, Qaliubiya, Alexandria, Suez, Port Said, and the Red Sea.
The minister added that new measures include studying the initiative’s expansion to include cars in the Port Said Free Zone, given their special nature. It would also allow non-participating governorates to join the initiative as soon as the infrastructure and technology are ready, particularly infrastructure such as natural gas stations and scrapping yards.
Moreover, any new company operating in Egypt will be allowed to join the initiative, provided that their cars contain 45% local components. Citizens requesting to replace vehicles can easily modify and complete their data, change the type or colour of the car by visiting the website and cancelling the old request, and submitting a new application.
Citizens are allowed to update the data, and make “replacement requests” if their licences have been valid for two years or more.
Maait explained that a technical support team has been assigned, in coordination with e-finance, to solve all technical problems that may arise when submitting vehicle replacement requests online.