The Egyptian government will postpone any increase in electricity prices for six months, Prime Minister Mostafa Madbouly revealed in a statement on June 15th.
This decision comes in line with the directives of President Abdel Fattah El-Sisi.
The six-month delay in applying any hikes on electricity prices will cost Egypt around EGP 10 billion, Madbouly noted, adding that this move comes as an attempt to alleviate burdens on citizens.
Pricing of electricity consumption is determined based on the inputs of electricity generation such as natural gas and fuel, he said.
The minister pointed out that the increase in the exchange rate of the US dollar to the Egyptian pound would have added EGP 4 billion to the annual estimated electricity cost of EGP 16 billion that Egypt already affords.
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