{"id":627988,"date":"2018-06-20T04:04:47","date_gmt":"2018-06-20T04:04:47","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/20\/car-assemblers-bakers-and-transport-providers-grapple-with-fuel-price-hike\/"},"modified":"2018-06-20T04:04:47","modified_gmt":"2018-06-20T04:04:47","slug":"car-assemblers-bakers-and-transport-providers-grapple-with-fuel-price-hike","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/20\/car-assemblers-bakers-and-transport-providers-grapple-with-fuel-price-hike\/","title":{"rendered":"Car assemblers, bakers and transport providers grapple with fuel price hike"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>Automotive assemblers, bakers and transport providers continue to grappling with the impact of this past weekend\u2019s fuel price hike<\/strong>, the latest in the Sisi administration\u2019s bid to phase our ruinous energy subsidies that disproportionately benefit the wealthy.<\/p>\n<p><strong>Subsidized bread production will cost state coffers an additional EGP 5 bn after the latest increase in fuel price hikes<\/strong>, unnamed Supply Ministry <a href=\"http:\/\/www.almalnews.com\/Story\/379533\/14\/-5-%D9%85%D9%84%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%B2%D9%8A%D8%A7%D8%AF%D8%A9-%D9%81%D9%89-%D9%85%D8%AE%D8%B5%D8%B5%D8%A7%D8%AA-%D8%A7%D9%84%D8%AE%D8%A8%D8%B2-%D8%A7%D9%84%D9%85%D8%AF%D8%B9%D9%85-%D8%A8%D8%B9%D8%AF-%C2%AB%D8%AA%D8%AD%D8%B1%D9%8A%D9%83%C2%BB-%D8%A7%D9%84%D9%88%D9%82%D9%88%D8%AF\">sources tell Al Mal<\/a>. The state will now pay EGP 60 bn for a year of subsidized bread production. Prior to <a href=\"https:\/\/enterprise.press\/stories\/2018\/06\/19\/government-hikes-fuel-prices-by-c-50\/\">Saturday\u2019s increase in fuel prices<\/a>, each loaf of subsidized bread cost EGP 0.60 to produce. The government covered EGP 0.55 and subsidy recipients provided the remaining EGP 0.05, the retail price of each loaf. Each loaf now costs EGP 0.65 to produce. Supply Minister Ali El Moselhy had said over the weekend that the ministry would maintain the retail price of subsidized bread and reimburse bakers for additional costs incurred.<\/p>\n<p><strong>The ministry also agreed to lower prices on subsidized flour to bakers, raising their profit margins to EGP 200 per sack of flour<\/strong> (one sack is enough to produce about 1,250 loaves), up from EGP 180 previously. However, the increase is not enough for bakers to cover all additional production costs, including electricity, water, wages, and yeast, member of the Federation of Egyptian Chambers of Commerce\u2019s bakeries division Abdel Rahman Omar tells the newspaper. Bakers believe a fair profit margin is EGP 240 per sack of flour, he added.<\/p>\n<p><strong>Auto assemblers expect prices on locally-assembled cars to rise following subsidy cuts:<\/strong> The Egyptian Automotive Manufacturing Association (EAMA) expects locally assembled cars to see a 10-15% jump in retail prices on the back of higher electricity and fuel costs, EAMA head Hassan Soliman <a href=\"http:\/\/www.almalnews.com\/Story\/379586\/18\/-%D8%B1%D8%A7%D8%A8%D8%B7%D8%A9-%D8%A7%D9%84%D9%85%D8%B5%D9%86%D8%B9%D9%8A%D9%86-10-%E2%80%93-15%D8%A8%D8%A7%D9%84%D9%85%D8%A6%D8%A9-%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9%D8%A7%D9%8B-%D9%85%D8%B1%D8%AA%D9%82%D8%A8%D8%A7%D9%8B-%D9%81%D9%89-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D8%B3%D9%8A%D8%A7%D8%B1%D8%A7%D8%AA-%D8%A7%D9%84%D9%85%D8%AC%D9%85%D8%B9%D8%A9-%D9%85%D8%AD%D9%84%D9%8A%D8%A7%D9%8B\">tells Al Mal<\/a>. Imported vehicles, meanwhile, should see their prices rise between EGP 2,000 and 3,000. Soliman doesn\u2019t see the price hikes sapping momentum in the industry, where sales are recovering from last year\u2019s nadir.<\/p>\n<p>Meanwhile, <strong>the ride-hailing app service for white taxis, Egy Taxi, said yesterday that it would suspend its services indefinitely<\/strong> due to an inability to cope with rising costs, <a href=\"http:\/\/almalnews.com\/Story\/379596\/17\/%D8%A8%D8%B9%D8%AF-%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%88%D9%82%D9%88%D8%AF-----%D8%A5%D9%8A%D8%AC%D9%89-%D8%AA%D8%A7%D9%83%D8%B3%D9%89--%D8%AA%D9%88%D9%82%D9%81-%D9%86%D8%B4%D8%A7%D8%B7%D9%87%D8%A7\">the newspaper also says<\/a>. This came as the Public Transport Authority yesterday <a href=\"http:\/\/almalnews.com\/Story\/379596\/17\/%D8%A8%D8%B9%D8%AF-%D8%A7%D8%B1%D8%AA%D9%81%D8%A7%D8%B9-%D8%A3%D8%B3%D8%B9%D8%A7%D8%B1-%D8%A7%D9%84%D9%88%D9%82%D9%88%D8%AF-----%D8%A5%D9%8A%D8%AC%D9%89-%D8%AA%D8%A7%D9%83%D8%B3%D9%89--%D8%AA%D9%88%D9%82%D9%81-%D9%86%D8%B4%D8%A7%D8%B7%D9%87%D8%A7\">decided to double<\/a> bus ticket prices in Cairo to EGP 3. \u201cPeople returning to work in Cairo on Tuesday seethed at the new sums they had to pay to board buses or fill up their vehicles with petrol,\u201d <a href=\"https:\/\/www.reuters.com\/article\/us-egypt-economy\/forking-out-egyptians-angered-by-new-austerity-after-eid-feast-idUSKBN1JF1ZC\">notes Reuters<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>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 the latest increase in fuel [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-627988","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"f379b02f-a7e9-4fbe-b025-15beccc55b8f","order":"0","is_powered_by":true,"section_story_id":"9c7548bd-5b95-47f9-9140-08e23ae12e55","story_type":"1","photo_url":"","photo_position":"above","related_issue":[627973],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Car assemblers, bakers and transport providers grapple with fuel 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\/2018\/06\/20\/car-assemblers-bakers-and-transport-providers-grapple-with-fuel-price-hike\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Car assemblers, bakers and transport providers grapple with fuel price hike\" \/>\n<meta property=\"og:description\" content=\"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. 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Exhibit A: The Supply Ministry is studying raising the profit margin of subsidized bread bakeries to offset rising costs incurred by the latest fuel subsidy cuts, Al Mal cited an anonymous source as saying. The government could increase bakers\u2019\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/578.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547888,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/subsidized-bakeries-wont-be-affected-by-recent-diesel-price-hike\/","url_meta":{"origin":627988,"position":1},"title":"Subsidized bakeries won\u2019t be affected by recent diesel price hike","author":"enterpriseam admin","date":"18 July 2022","format":false,"excerpt":"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\u2026","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/181.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":628086,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/25\/govt-prepared-to-pay-15-more-to-freight-and-transport-providers-serving-subsidy-programs-expects-3-7-increase-in-food-prices\/","url_meta":{"origin":627988,"position":2},"title":"Gov\u2019t prepared to pay 15% more to freight and transport providers serving subsidy programs, expects 3-7% increase in food prices","author":"enterpriseam admin","date":"25 June 2018","format":false,"excerpt":"The Madbouly government is working to insulate beneficiaries of its subsidy programs from rising food prices in the wake of last week\u2019s fuel subsidy cuts. The government will pay 15% more for transport providers who haul the food and petroleum products it buys under the subsidy program after recent fuel\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":627988,"position":3},"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 &quot;Basic Materials + Commodities&quot;","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":627944,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/19\/government-hikes-fuel-prices-by-c-50\/","url_meta":{"origin":627988,"position":4},"title":"Government hikes fuel prices by c. 50%","author":"enterpriseam admin","date":"19 June 2018","format":false,"excerpt":"Fuel price hikes came into effect over the long weekend: The government raised the price of fuel products by c. 50%, according to a detailed price list put out by the Oil Ministry. The subsidy cuts were necessary to save the FY2018-19 budget around EGP 90 bn in fuel subsidy\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":586115,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/07\/govt-hikes-diesel-price-by-14-leaves-gasoline-prices-unchanged\/","url_meta":{"origin":627988,"position":5},"title":"Gov\u2019t hikes diesel price by 14%, leaves gasoline prices unchanged","author":"enterpriseam admin","date":"7 May 2023","format":false,"excerpt":"Hike to diesel prices could fuel more inflation","rel":"","context":"In &quot;Energy&quot;","block_context":{"text":"Energy","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/energy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/275.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\/627988","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=627988"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/627988\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/627973"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=627988"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=627988"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=627988"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=627988"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=627988"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}