{"id":641663,"date":"2017-09-28T04:04:52","date_gmt":"2017-09-28T04:04:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/28\/fuel-subsidy-cuts-and-their-return-top-concerns-on-the-airwaves\/"},"modified":"2017-09-28T04:04:52","modified_gmt":"2017-09-28T04:04:52","slug":"fuel-subsidy-cuts-and-their-return-top-concerns-on-the-airwaves","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/28\/fuel-subsidy-cuts-and-their-return-top-concerns-on-the-airwaves\/","title":{"rendered":"Fuel subsidy cuts and their return top concerns on the airwaves"},"content":{"rendered":"

The talking heads are worried we may soon face another round of fuel subsidy cuts. <\/strong><\/p>\n

<\/a> Hiking fuel prices will not be necessary this fiscal year<\/strong> 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 Hadidi on Hona Al Asema last night. El Garhy said that the government agreed with the IMF that further subsidy cuts can be put off for the time being, but reminded the host that energy subsidies are still on their way out<\/strong>, as the government is sticking to its goal of completely lifting them within three to five years. Cabinet will review its position on fuel subsidies ahead of FY2018-19 to determine how best to achieve that goal, the minister said. El Garhy added that the decrease in month-on-month inflation in August is a positive indicator that annual inflation rate will reach to 12-13% in the coming six-to-nine months (watch, runtime 11:00<\/a>).<\/p>\n

Pushing back subsidy cuts could mean that next year will see a spike in prices that will <\/strong>be too difficult to stomach<\/strong>, CI Capital analyst Noaman Khaled said in a phone-in. By Khaled\u2019s calculations, the government currently subsidizes 40% of a fuel\u2019s true cost at the pump. He called on the government to reach an arrangement with the IMF to lift the subsidies more gradually to reduce the impact of the shock. Khaled also attributed August\u2019s cooling inflation rates to companies shielding consumers from price increases (watch, runtime 7:54<\/a>).<\/p>\n

Gebril also spoke to head of the bakeries division at the Federation of Egyptian <\/strong>Industries, Abdullah Ghorab<\/strong>, who said Supply Ministry Ali El Moselhy decided to temporarily postpone the decision to require that subsidy card holders to buy bread in the governorates in which they live (watch, runtime 6:14<\/a>). The move was initially presented as a means of cutting down on welfare fraud.<\/p>\n

Over on Masaa DMC, Osama Kamal hosted MP Mohamed Elsewedy for a talk about his <\/strong>reelection as the leader of the Support Egypt bloc in parliament and his legislative agenda <\/strong>(watch, runtime 5:28<\/a>). Elsewedy \u2014 switching between his MP\u2019s hat and the one he wears as head of the Federation of Industries \u2014 said not enough land is available to industry. He said the Industrial Permits Act is expected to resolve this issue by granting the Industrial Development Authority the autonomy to tender and develop land plots without being tied down by other government bodies. Elsewedy maintained that providing land for industrial projects is paramount, even if it comes at the expense of agricultural land (watch, runtime 6:40<\/a>).<\/p>\n

Kol Youm\u2019s Amr Adib decided to take a working holiday in Gouna<\/strong> to cover the Gouna Film Festival, which Samih Sawiris told the host was his brother Naguib\u2019s brainchild (watch, runtime 2:01<\/a>).<\/p>\n","protected":false},"excerpt":{"rendered":"

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 Hadidi on Hona Al Asema […]<\/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-641663","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":"29c9578e-1246-4941-8439-38862c56f541","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[641656],"teaser":"","voice_url":""},"yoast_head":"\nFuel subsidy cuts and their return top concerns on the airwaves - 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\/2017\/09\/28\/fuel-subsidy-cuts-and-their-return-top-concerns-on-the-airwaves\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fuel subsidy cuts and their return top concerns on the airwaves\" \/>\n<meta property=\"og:description\" content=\"The talking heads are worried we may soon face another round of fuel subsidy cuts. 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The Finance Ministry will review the impact of higher crude prices on Egypt\u2019s fuel subsidy bill for FY2017-18, said El Garhy at the press conference, according to Al Mal. It is yet unclear whether the statement\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":642236,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/09\/falling-budget-deficit-criteria-for-new-subsidy-beneficiaries-dominates-last-nights-talk-shows\/","url_meta":{"origin":641663,"position":1},"title":"Falling budget deficit, criteria for new subsidy beneficiaries dominates Last Night\u2019s Talk Shows","author":"enterpriseam admin","date":"9 August 2017","format":false,"excerpt":"Egypt\u2019s falling budget deficit and new eligibility criteria for subsidy beneficiaries were front and center on the airwaves last night. 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":648042,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/25\/parliament-questions-math-on-fuel-subsidies-allocations\/","url_meta":{"origin":641663,"position":2},"title":"Parliament questions math on fuel subsidies allocations","author":"enterpriseam admin","date":"25 May 2017","format":false,"excerpt":"The House of Representatives\u2019 Budget Committee seems to think that the EGP 110 bn the state earmarked for fuel subsidies in the FY2017-18 budget is too high considering the announced rate of fuel subsidy cuts, Al Mal says. MPs on Wednesday asked Finance Minister Amr El Garhy to provide them\u2026","rel":"","context":"In "Egypt Politics + Economics"","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"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":641663,"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":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":641663,"position":4},"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":641663,"position":5},"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). 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