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Egypt plans electricity prices hike ahead of election

: Wednesday, April 16 - 2014 @ 09:23

Egypt’s planning minister, Ashraf al-Arabi, has said the government plans to boost electricity prices for the richest 20% of its citizens before the presidential elections at the end of May, as the country has “no time to waste” in starting reforms, Reuters has reported. The decision on raising gasoline prices would be taken “very soon,” said al-Arabi, declining to provide further details. “This energy subsidy system is unsustainable; we cannot afford [for] this to continue,” al-Arabi said on the sidelines of the IMF-World Bank meetings in Washington. “We don’t have time to waste. … It’s better for Egypt to start some of these measures at least before the presidential election, just to pave the way for the coming president, to make his life easier,” he said.

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Wednesday, April 16- 2014 @ 9:23 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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