Presidential initiative to replace obsolete vehicles costs EGP 675m: Finance Minister 

Daily News Egypt
3 Min Read

Minister of Finance Mohamed Maait said that the state’s general treasury bore EGP 675m as the value of the green incentive for 27,225 new natural gas-powered vehicles. Citizens can request to have their old vehicles replaced and scrapped according to environmental requirements, as part of the presidential initiative to eliminate obsolete vehicles.

Maait said on Monday that the government is proceeding with the gradual expansion of that initiative in all of Egypt’s governorates, according to the availability of the required infrastructure for cars that run on natural gas. This initiative is another step to enhance green transformation efforts. The Egyptian government called on the business community and manufacturers to present their smart products and solutions to help with the process of developing vehicle manufacturing technology.

In coordination with the Federation of Egyptian Industries, invitations were sent out to members of the Automotive Division of the General Federation of Chambers of Commerce; to participate in the development of the environmentally friendly automobile industry, its components and the necessary infrastructure for its operation. Proposals and offers can be received via email.

The Minister pointed out that the initiative began receiving requests from citizens in Ismailia wishing to replace their obsolete cars, which were manufactured over 20 years ago, with new ones that run on natural gas. This aims to help facilitate the process of helping citizens own new models of environmentally friendly cars at competitive prices. This all comes within the framework of the state’s efforts to reduce air pollution and harmful carbon emissions.

Khaled Nofal, First Assistant Minister of Finance and Chairperson of the Vehicle Replacement Fund at the Ministry, said that the initiative allows the business community and car manufacturers to send their proposals in preparation for joint work with them.

He added that, in order to ensure the actual implementation of the replacement initiative, the citizens of Sharqyea and Beni Suef governorates, who applied to replace their obsolete cars, will soon have their vehicles scrapped. in the main yard of the Greater Cairo Governorate in Abu Rawash area, to speed up the procedures for citizens to receive their new cars.

Share This Article
Leave a comment