{"id":634291,"date":"2018-01-11T04:01:00","date_gmt":"2018-01-11T04:01:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/railway-metro-ticket-price-increases\/"},"modified":"2018-01-11T04:01:00","modified_gmt":"2018-01-11T04:01:00","slug":"railway-metro-ticket-price-increases","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/11\/railway-metro-ticket-price-increases\/","title":{"rendered":"Railway, metro ticket price increases"},"content":{"rendered":"

Despite Hona Al Assema\u2019s Lamees Al Hadidi being off last night, the airwaves had plenty on offer to keep us busy, including some new economic metrics and more on subsidy reform from Finance Minister Amr El Garhy<\/strong>.<\/p>\n

The government is committed to pursuing further economic reforms, but has no immediate plans to raise subsidized bread prices<\/strong>, El Garhy told TEN TV\u2019s Amr Abdel Hameed. El Garhy noted that although each loaf costs EGP 0.55 to produce and is sold for EGP 0.05, the subsidy will remain in place for the time being, particularly as the government keeps an eye on the social safety net throughout ongoing reforms. He stressed that the program is partially geared towards undoing several years of damage, including the widening of the state budget deficit in the years following 2011 that led to inflation and exchange rates skyrocketing.<\/p>\n

El Garhy also told Abdel Hameed that Egypt\u2019s external debt levels have reached USD 81 bn but the government has a debt strategy<\/strong> in place for the coming fiscal year. He noted that gas discoveries coming online will help to curb the price of petroleum products (watch, runtime: 2:12:13<\/a>).<\/p>\n

Railway ticket prices will almost certainly be raised within two weeks\u2019 time<\/strong>, Transport Minister Hisham Arafat told Kol Youm\u2019s Amr Adib. Arafat said that holding off on the increases any longer is simply not feasible as the Egyptian National Railways (ENR) continues to incur significant losses, including EGP 200 mn since the last hike in oil prices back in July. Much to Adib\u2019s astonishment, Arafat said that the ENR is indeed required to pay the Oil Ministry for its fuel consumption, but noted that the ENR has been unable to make these payments due to its financing gap (watch, runtime: 3:40<\/a>).<\/p>\n

Metro tickets will also see an increase in May, at which point tickets will range between EGP 3 and 6<\/strong> depending on the distance traveled (we have more on the proposed pricing schemes in the Speed Round) (watch, runtime: 1:26<\/a>). Arafat also said that the metro is in dire need of maintenance works, particularly Line 1, which is susceptible to breaking down at any moment (watch, runtime: 2:12<\/a>).<\/p>\n

The Supply Ministry\u2019s purge of the subsidy system\u2019s database found over 3 mn Kramers are alive and mooching well<\/strong>, assistant minister Amr Abdel Moneim told Ala Mas\u2019ouleety\u2019s Ahmed Moussa. The ministry\u2019s purge also unveiled corruption from subsidized commodities vendors, who manipulated the system by using smartcards that never made it to the intended beneficiaries (watch, runtime: 2:01<\/a>).<\/p>\n

Over on Al Hayah Al Youm, Tourism Minister Yehia Rashed told host Tamer Amin<\/strong> that one of the sector\u2019s biggest achievement over the past few years was its focus on developing religious tourism, which should see a further boom once the Holy Family trail is opened to visitors. The ministry is still working to bring tourist arrivals back to pre-2011 levels, and will launch campaign to highlight the positive developments Egypt has undergone in recent years to lure back tourists. Rashed also attributed last year\u2019s improving tourism numbers to his ministry\u2019s international campaigns (watch, runtime: 42:49<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

Despite Hona Al Assema\u2019s Lamees Al Hadidi being off last night, the airwaves had plenty on offer to keep us busy, including some new economic metrics and more on subsidy reform from Finance Minister Amr El Garhy. The government is committed to pursuing further economic reforms, but has no immediate plans to raise subsidized bread […]<\/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":[9281],"tags":[2379,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-634291","post","type-post","status-publish","format-standard","hentry","category-enterprise-last-nights-talk-shows","tag-enterprise-last-nights-talk-shows","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"902ee3ef-c0a0-4c55-946c-00ddefb3e784","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[634286],"teaser":"","voice_url":""},"yoast_head":"\nRailway, metro ticket price increases - 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\/01\/11\/railway-metro-ticket-price-increases\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Railway, metro ticket price increases\" \/>\n<meta property=\"og:description\" content=\"Despite Hona Al Assema\u2019s Lamees Al Hadidi being off last night, the airwaves had plenty on offer to keep us busy, including some new economic metrics and more on subsidy reform from Finance Minister Amr El Garhy. 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The budget deficit narrowed to 10.9% in FY2016-17 from 12.5% a year before \u201cwithout any help from Arab neighbors,\u201d Finance Minister Amr El Garhy told Masaa DMC\u2019s Osama Kamal in\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637218,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/12\/between-the-imf-delegations-report-and-sps-outlook-upgrade-amr-el-garhy-had-plenty-to-talk-about\/","url_meta":{"origin":634291,"position":1},"title":"Between the IMF delegation\u2019s report and S&P\u2019s outlook upgrade, Amr El Garhy had plenty to talk about","author":"enterpriseam admin","date":"12 November 2017","format":false,"excerpt":"With plenty of developments on the economic front, Finance Minister Amr El Garhy blanketed the airwaves last night to discuss the IMF delegation\u2019s visit and report on Egypt\u2019s progress and reforms, as well as S&P\u2019s long-awaited move to raise the country\u2019s outlook to \u2018positive.\u2019The IMF delegation agreed to make some\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":652642,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/01\/16\/el-garhy-makes-the-rounds-following-presser-on-egypts-fiscal-position-adib-reads-price-controls-are-coming-from-el-sisis-interview\/","url_meta":{"origin":634291,"position":2},"title":"El Garhy makes the rounds following presser on Egypt\u2019s fiscal position; Adib reads price controls are coming from El Sisi\u2019s interview","author":"enterpriseam admin","date":"16 January 2017","format":false,"excerpt":"On ONTV\u2019s Kol Youm, Amr Adib is interpreting President Abdel Fattah El Sisi\u2019s interview with state-owned papers as foreshadowing price controls. \u201cIt feels like a plan is in the works to impose a cap on profit margins\u201d he said (watch, runtime 10:51). The president said that the EGP should begin\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":644750,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/03\/fuel-and-commodity-prices-in-light-of-hike-and-vat-increase-dominate-the-debate\/","url_meta":{"origin":634291,"position":3},"title":"Fuel and commodity prices in light of hike and VAT increase dominate the debate","author":"enterpriseam admin","date":"3 July 2017","format":false,"excerpt":"Fuel prices will not be rising again in FY2017-18, Finance Minister Amr El Garhy told Amr Adib on last night\u2019s Kol Youm. The phase-out of energy subsidies will continue on its gradual trajectory for the next three-five years, El Garhy added, explaining that the most recent hike was necessary to\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":638964,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/10\/18\/el-garhy-on-eurobond-program-praise-for-egypt-in-the-us\/","url_meta":{"origin":634291,"position":4},"title":"El Garhy on eurobond program, praise for Egypt in the US","author":"enterpriseam admin","date":"18 October 2017","format":false,"excerpt":"El Garhy on eurobond program, praise for Egypt in the US: The planned eurobond issuance will not add to the pressure of external debt, as interest rates have dropped to 6% on 10-year bonds, down from 7.5%, while six-year bonds now carry a rate of 5%, down from 6.5%, Finance\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":641663,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/28\/fuel-subsidy-cuts-and-their-return-top-concerns-on-the-airwaves\/","url_meta":{"origin":634291,"position":5},"title":"Fuel subsidy cuts and their return top concerns on the airwaves","author":"enterpriseam admin","date":"28 September 2017","format":false,"excerpt":"The talking heads are worried we may soon face another round of fuel subsidy cuts. Hiking fuel prices will not be necessary this fiscal year in light of current international oil prices and the FX rate, Finance Minister Amr El Garhy told Lama Gebril, who stepped in for Lamees Al\u2026","rel":"","context":"In "Enterprise+: Last Night\u2019s Talk Shows"","block_context":{"text":"Enterprise+: Last Night\u2019s Talk Shows","link":"https:\/\/enterpriseam.com\/egypt\/category\/enterprise-last-nights-talk-shows\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/634291","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=634291"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/634291\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/634286"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=634291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=634291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=634291"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=634291"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=634291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}