{"id":547888,"date":"2022-07-18T04:00:32","date_gmt":"2022-07-18T04:00:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/"},"modified":"2022-07-18T04:00:32","modified_gmt":"2022-07-18T04:00:32","slug":"subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/","title":{"rendered":"Subsidized bakeries won\u2019t be affected by recent diesel price hike"},"content":{"rendered":"

<\/a> Subsidized bakeries won\u2019t be affected by the recent diesel price hike: <\/strong>The General Authority for Supply Commodities (GASC) will subsidize the difference in the cost of diesel for subsidized bakeries following the recent price hike, Supply Minister Ali El Moselhy said in a statement<\/a>. The price of subsidized loaves of baladi bread will remain unchanged at EGP 0.50, he said. The government currently pays EGP 0.70<\/a> in subsidies per loaf and has allocated EGP 90 bn to cover food subsidies in FY 2022-2023.<\/p>\n

The <\/strong>government raised the price of diesel<\/a><\/strong> last week for the first time in three years<\/strong> in efforts to reduce its subsidy bill amid rising global energy prices. In its latest quarterly review, the fuel pricing committee increased the price to EGP 7.25 per liter from EGP 6.75, and hiked petrol prices by up to 10%. Prime Minister Moustafa Madbouly said the state will pay out EGP 55 bn in diesel subsidies this year following the price hike.<\/p>\n

Half of the countries\u2019 subsidized bakeries still rely on diesel<\/strong>, while the other half are natural gas powered, Abdallah Ghorab, head of the bakery division at the Egyptian Federation of Chambers of Commerce, told Kelma Akhira\u2019s Lamees El Hadidi last night (watch, runtime: 22:19<\/a>). The government plans to eventually hook all bakeries up with natural gas instead of diesel.<\/p>\n

The price rises have raised fears of further inflation:<\/strong> Higher diesel prices are likely to feed through to goods and services. The fuel is used to transport commodities, operate agricultural machinery and power public transport. Taxi, bus and microbus fares rose by 5-7% across the country following the hike.<\/p>\n

What are ride-hailing firms saying?<\/strong> Careem is still looking into how it will address the recent hike in petrol prices, Haitham Essam, head of the company\u2019s Egypt business, told Al Borsa<\/a>. The company is currently assessing the market and no decisions have been made, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Subsidized bakeries won\u2019t be affected by the recent diesel price hike: The General Authority for Supply Commodities (GASC) will subsidize the difference in the cost of diesel for subsidized bakeries following the recent price hike, Supply Minister Ali El Moselhy said in a statement. The price of subsidized loaves of baladi bread will remain unchanged […]<\/p>\n","protected":false},"author":1,"featured_media":547889,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7207],"tags":[442,317,93,72,819,328,207],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547888","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-careem","tag-commodities","tag-energy","tag-enterpriseam","tag-fuel","tag-ride-hailing","tag-transport","wpautop","entry"],"acf":{"mongo_id":"7001bb3d-276d-4bfd-bddb-197b8dd8a567","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/7\/181.jpg","photo_position":"above","related_issue":[547880],"teaser":"","voice_url":""},"yoast_head":"\nSubsidized bakeries won\u2019t be affected by recent diesel price hike - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Subsidized bakeries won\u2019t be affected by recent diesel price hike\" \/>\n<meta property=\"og:description\" content=\"Subsidized bakeries won\u2019t be affected by the recent diesel price hike: The General Authority for Supply Commodities (GASC) will subsidize the difference in the cost of diesel for subsidized bakeries following the recent price hike, Supply Minister Ali El Moselhy said in a statement. 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Wheat mills and bakeries will be required to pay the ministry market price for wheat and flour while holding the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":573811,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/18\/egypts-supply-ministry-raises-compensation-for-subsidized-bread-bakers\/","url_meta":{"origin":547888,"position":1},"title":"Egypt\u2019s Supply Ministry raises compensation for subsidized bread bakers","author":"enterpriseam admin","date":"18 August 2020","format":false,"excerpt":"The Supply Ministry is paying bakeries a higher fee for producing subsidized bread, according to a decision seen by Al Mal. Bakeries are required to purchase the raw materials for bread, primarily subsidized flour, from millers and then receive monetary compensation from the government for the end product. Bakeries that\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621790,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/03\/sugar-price-hikes-next\/","url_meta":{"origin":547888,"position":2},"title":"Sugar price hikes next?","author":"enterpriseam admin","date":"3 June 2024","format":false,"excerpt":"The state currently spends more than EGP 23 in subsidies on every kilo of subsidized sugar","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/6\/156.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":621031,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/05\/30\/govt-raises-price-of-subsidized-bread\/","url_meta":{"origin":547888,"position":3},"title":"Gov\u2019t raises price of subsidized bread","author":"enterpriseam admin","date":"30 May 2024","format":false,"excerpt":"This marks the first time the government has touched bread subsidies in 30 years.","rel":"","context":"In "Commodities"","block_context":{"text":"Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2520.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":627988,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/20\/car-assemblers-bakers-and-transport-providers-grapple-with-fuel-price-hike\/","url_meta":{"origin":547888,"position":4},"title":"Car assemblers, bakers and transport providers grapple with fuel price hike","author":"enterpriseam admin","date":"20 June 2018","format":false,"excerpt":"Automotive assemblers, bakers and transport providers continue to grappling with the impact of this past weekend\u2019s fuel price hike, the latest in the Sisi administration\u2019s bid to phase our ruinous energy subsidies that disproportionately benefit the wealthy. Subsidized bread production will cost state coffers an additional EGP 5 bn after\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":644044,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/19\/govt-hikes-subsidized-butane-prices-by-up-to-50\/","url_meta":{"origin":547888,"position":5},"title":"Gov\u2019t hikes subsidized butane prices by up to 50%","author":"enterpriseam admin","date":"19 September 2024","format":false,"excerpt":"The price hikes are expected to save the state over EGP 27 bn in annual expenditures","rel":"","context":"In "Energy"","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/1513.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=547888"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547888\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547880"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/547889"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547888"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547888"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}