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Price per cubic meter will be 1.75 pounds (less than 1 dollar) for consumption quantities of up to 30 cubic meters, 2.5 pounds per cubic meter for consumption quantities of up to 60 meters cubes and three pounds per cubic meter for a consumption of more than 60 cubic meters.The decision that the increase included in the rationalization of support for petroleum products and natural gas K will come into effect on August 1, according to Reuters.
Before the new increase, the price per cubic meter per pound of consumption up to 30 cubic meters The consumption meter is up to 60 cubic meters and 2.25 pounds per cubic meter for a consumption of more than 60 cubic meters
Consumption bills are issued monthly
The decision comes about a year and a half after the Fund's loan program. The program is linked to austerity measures that Egypt hopes to attract painful reforms, including tax hikes and reduced subsidies, foreign investors reopen the door Before the start of the 39 economy that was affected by the uprisings of the Arab Spring in 2011.
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According to the resolution will be the price of the meter (1.75 pounds) (less than a dollar) for amounts of consumption going up to At 30 cubic meters and 2.5 pounds per cubic meter of consumption up to 60 cubic meters and three pounds per cubic meter for a consumption of more than 60 cubic meters.
Before the further increase, the price per cubic meter was from one pound for consumption up to 30 cubic meters, and 1.75 pounds per cubic meter for consumption up to 30 cubic meters. at 60 percent. Cubic meters and 2.25 pounds per cubic meter for a consumption of more than 60 cubic meters.
Consumption is Monthly
Decision comes about a year and a half after a three-year $ 12 billion IMF loan program signed by Egypt end of 2016.
The program is subject to severe austerity measures Egypt hopes that painful reforms, including tax increases and reduced subsidies, will attract again foreign investors and will open the door to an economy hit by the uprisings of the Arab Spring in 2011.
