{"id":628040,"date":"2018-06-24T04:29:36","date_gmt":"2018-06-24T04:29:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/24\/govt-ends-life-support-on-comatose-fuel-smart-cards\/"},"modified":"2018-06-24T04:29:36","modified_gmt":"2018-06-24T04:29:36","slug":"govt-ends-life-support-on-comatose-fuel-smart-cards","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/24\/govt-ends-life-support-on-comatose-fuel-smart-cards\/","title":{"rendered":"Gov\u2019t ends life support on comatose fuel smart cards"},"content":{"rendered":"

Also from the reform files: Gov\u2019t takes comatose fuel smart cards off life support: <\/strong>The Madbouly government has officially pulled the plug on the defunct ration card system for fuel, according to an announcement by the Oil Minister Tarek El Molla on Wednesday, according to Al Mal<\/a>. The policy had been riddled with \u201choles\u201d the government could not plug, he reportedly said. The smart card system would create another parallel market for fuel, which would be counterproductive, he added. The policy was also economically unfeasible, costing the state some EGP 2 bn, he said. Oil Ministry spokesperson Hamdy Abdel Aziz highlighted another glaring problem with the system: We have no tally of all the vehicles out there in Egypt. The system was supposed to include vehicles such as tuk-tuks and fishing boats, and without a proper tally of these vehicles the system would not be able to be implement, he said on Thursday, according to AMAY<\/a>.<\/p>\n

Background:<\/strong> The fuel smart cards system was meant to help reduce energy spending by limiting access to subsidized fuel and curbing the sale of this fuel on the black market. The issuance of smart cards began in May 2015, with an eye to fully implementing it by June of that year. President El-Sisi then postponed the system suddenly a day before its scheduled implementation \u201cuntil all the sectors that don't have these cards are covered.\u201d New smart cards, however, continued to be issued for a period after.<\/p>\n

What\u2019s really going on: <\/strong>The system has been scrapped because subsidies are going out the window.<\/p>\n

Fuel subsidies to be completely eliminated by next year, warns El Molla:<\/strong> \u201cThe [recent] increase [in petrol prices at the pumps] comes as a corrective measure for the pricing of petroleum products amid a level of consumption that does not reflect the country's economic development,\u201d he said, according to Ahram Online<\/a>. He noted that last week\u2019s 50% hike in fuel prices<\/a> still leaves the government subsidizing 25% of the cost of fuel<\/strong>. El Molla then reiterated that fuel subsidies would be eliminated completely by next year, according to Al Shorouk<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Also from the reform files: Gov\u2019t takes comatose fuel smart cards off life support: The Madbouly government has officially pulled the plug on the defunct ration card system for fuel, according to an announcement by the Oil Minister Tarek El Molla on Wednesday, according to Al Mal. The policy had been riddled with \u201choles\u201d the […]<\/p>\n","protected":false},"author":1,"featured_media":628041,"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-628040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"cbd6ef65-ed51-4a79-a4f9-b171fd385a16","order":"0","is_powered_by":true,"section_story_id":"df65e825-450f-4737-aef8-9552c08bf292","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/6\/136.jpg","photo_position":"above","related_issue":[628029],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t ends life support on comatose fuel smart cards - 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\/24\/govt-ends-life-support-on-comatose-fuel-smart-cards\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t ends life support on comatose fuel smart cards\" \/>\n<meta property=\"og:description\" content=\"Also from the reform files: Gov\u2019t takes comatose fuel smart cards off life support: The Madbouly government has officially pulled the plug on the defunct ration card system for fuel, according to an announcement by the Oil Minister Tarek El Molla on Wednesday, according to Al Mal. 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gov\u2019t source","author":"enterpriseam admin","date":"18 December 2019","format":false,"excerpt":"BUDGET WATCH- Gov\u2019t to beat fuel subsidy spending targets in 2Q -gov\u2019t source: The government will not spend more than EGP 10 bn on fuel subsidies in 2Q2019-2020, beating the EGP 13.23 bn quarterly allocations included in the state budget, an unnamed government source told Al Mal. Fuel subsidies spending\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":594640,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/03\/fuel-subsidy-spending-falls-30-in-fy-2018-2019-beating-govt-targets\/","url_meta":{"origin":628040,"position":1},"title":"Fuel subsidy spending falls 30% in FY 2018\/2019, beating gov\u2019t targets","author":"enterpriseam admin","date":"3 September 2019","format":false,"excerpt":"Fuel subsidy spending falls 30% in FY2018-2019, beating gov\u2019t targets: The government\u2019s fuel subsidies bill fell 30% in FY2018-2019, beating spending targets outlined in the state budget, an Oil Ministry official told Reuters. Fuel subsidy spending last year came in at EGP 85 bn, EGP 4 bn lower than 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":566955,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/08\/govt-keeps-fuel-prices-unchanged-through-march\/","url_meta":{"origin":628040,"position":2},"title":"Gov\u2019t keeps fuel prices unchanged through March","author":"enterpriseam admin","date":"8 January 2020","format":false,"excerpt":"Gov\u2019t leaves fuel prices unchanged through March: The government\u2019s fuelpricing committee has decided to maintain the current prices for all grades of fuel until the end of March, according to a statement (pdf). This means that prices will remain at EGP 8.75 per liter of 95-octane, EGP 7.75 per liter\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":593655,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/07\/egypt-cuts-fuel-prices-for-first-time-since-2016\/","url_meta":{"origin":628040,"position":3},"title":"Egypt cuts fuel prices for first time since 2016","author":"enterpriseam admin","date":"7 October 2019","format":false,"excerpt":"Gov\u2019t cuts fuel prices for first time since 2016: The government has revised down prices for all grades of fuel by EGP 0.25 per liter on the back of lower average crude prices and a stronger EGP, the cabinet said in a statement. The committee in charge of setting prices\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\/2019\/4\/1986.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572812,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/09\/govt-keeps-fuel-prices-on-hold-across-the-board\/","url_meta":{"origin":628040,"position":4},"title":"Gov\u2019t keeps fuel prices on hold across the board","author":"enterpriseam admin","date":"9 July 2020","format":false,"excerpt":"The government\u2019s fuel pricing committee left the price of all fuel grades unchanged during its quarterly meeting this week, according to an cabinet statement on Wednesday. The price of 95-octane remains EGP 8.50 per liter, 92-octane is EGP 7.50 per liter, and 80-octane is EGP 6.25 per liter. Gas oil\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\/2020\/7\/57.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":652164,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/02\/fuel-smart-card-system-implemented\/","url_meta":{"origin":628040,"position":5},"title":"Fuel smart card system implemented","author":"enterpriseam admin","date":"2 January 2017","format":false,"excerpt":"The government has reportedly begun implementing the fuel smart card system for motorists as of Sunday. 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