Egypt spends $5.9mln in green incentives to replace 4k obsolete cars: Finance Minister

The ministry aims to deliver 300 new microbuses per month

  
Cars are stuck in a traffic jam before curfew to contain the spread of the coronavirus disease (COVID-19), in Shubra El Kheima, Al Qalyubia Governorate, north of Cairo, Egypt, April 22, 2020.

Cars are stuck in a traffic jam before curfew to contain the spread of the coronavirus disease (COVID-19), in Shubra El Kheima, Al Qalyubia Governorate, north of Cairo, Egypt, April 22, 2020.

REUTERS/Mohamed Abd El Ghany

Egypt disbursed EGP 92.8m as green incentives for citizens who wanted to replace their obsolete vehicles with new vehicles that run on natural gas, Minister of Finance Mohamed Maaitannounced on Saturday.

He added that the government delivered the first new dual-fuel microbus under the initiative, with many more to come during the month, according to the first-come, first-served basis. The ministry aims to deliver 300 new microbuses per month. Since April, 4,127 passenger cars and taxis have been delivered under the initiative.

He added that the Ministry has completed the public bidding procedure, so that old cars can be removed from scrap yards in Greater Cairo, Alexandria, Suez, and the Red Sea governorates, to dispose of them in a safe and environmentally friendly manner. The old vehicles’ components could be used in multiple industries that rely on iron, rubber, plastic, and fibre.

Amgad Mounir, Chairperson of the Vehicle Replacement Fund at the Ministry of Finance and Executive Director of the Car Replacement Initiative, said that the total valid requests completed on the initiative’s website have so far reached about 31,000 requests, and as of mid-August, 4,701 old cars have been scrapped.

Ahmed Abdel Razek, the official spokesperson for the Vehicle Replacement Initiative, said that the ministry is constantly working to filter the requests that are received on the initiative’s website, by rejecting those with incorrect data.

The initiative aims to replace old cars that were manufactured more than 20 years ago with new, advanced dual-fuel cars through a package of incentives.

© 2021 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From North Africa