CAIRO: The application of a smart card system for subsidized fuel purchases will come into effect mid-October, Al-Masry Al-Youm reported Saturday.
“The application will follow the completion of an ongoing comprehensive inventory process of all sectors eligible for the new system,” high-profile government source told the newspaper on condition of anonymity because he was not authorized to talk to the media.
The news system was originally scheduled for last mid-June but was postponed “to give the government more time to study sectors that are not covered by the new system,” according to a presidential statement in June.
“The numbers of tok-toks, motorcycles and agricultural tractors have been inventoried and will benefit from the new system, the source, adding that a cabinet meeting will convene next week to announce the timeline of the new system application.
Egypt’s smart card system for subsidized fuel purchases is aimed at curbing misuse of petroleum products and reducing Egypt’s energy subsidy bill, which accounts for 13 percent of government spending in the public budget for the 2014-15 Fiscal Year, Finance Minister Hany Kadry was quoted earlier by Youm7.