Egypt’s President Abdel Fattah Al-Sisi announced on Monday that electricity price increase was postponed for three times so far, even though the cost of producing electricity increased.
The president made his remarks during the inauguration of the Animal and Dairy Production Complex project in Sadat City, Menoufeya governorate.
He added that it is necessary to work to increase the growth of animal production nationwide, noting that the measures taken by the state during the past years contributed to raising the growth rates of animal production. He stressed that partnership with the private sector contributed to the growth of a number of livestock projects.
“when we talked about increasing veal, we did not expect what would happen, but we were stressing the need to increase production growth, whether from poultry or meat, to achieve self-sufficiency or for the benefit of exports,” he said.
He added: “We entered these tracks and industries a little late, especially the meat industry, as it is an industry and not just breeding, and it is a very integrated, expensive and time-consuming industry, and we were talking about a million head of livestock, but what we reached is 71,000 heads.”
Commenting on the speech of the Minister of Agriculture and Land Reclamation, Elsayed Elkosayer, the president stressed the importance of increasing production rates in various fields to achieve self-sufficiency and export the surplus abroad. He highlighted the importance of utilizing the largest area of land to control production costs in light of population growth in Egypt and high prices worldwide.
President Al-Sisi also said that the state is making great efforts to control prices, pointing out that prices in Egypt were supposed to be much higher than their current rates, noting that inflation rates have risen significantly in European and Western countries, as a result of the Russian-Ukrainian war, although they are rich countries.
He pointed out that a big leap in production costs would have occurred if the government dealt with energy prices according to international rates, stressing the state’s keenness to stabilize fuel and energy prices and that it has postponed the scheduled increase in electricity prices many times to relieve citizens.
Moreover, Al-Sisi stated that the participation of the private sector and civil society organizations with the government in the process of developing the state is no longer an investment, but rather a preservation of stability in the country.