El-Sadat to Prime Minister: A Great Opportunity to Free Energy Prices with No Tangible Negative Effects on Citizens

Head of Reform and Development Party (RDP), Mr. Mohamed Anwar Sadat calls Prime Minister, the Minster of Petroleum and the Minister of Finance for setting an urgent plan for re-pricing all energy products in a way that can be aligned with the international prices. This attempt is to make use of the current status of raw petrol that aggravates the prices of petrol, gasoline and fuel in Egypt compared to the whole world.

El-Sadat clarifies that adopting a policy of liberating energy prices now will not affect the citizens; however, it will have positive long-term effects. It will help balance the local price with the international price same as any other product. There is no problem in giving the poor families and those who will probably be negatively affected a financial support rather than depending on the current in-kind support. 

El-Sadat also draws the attention of the Minister of Petroleum to try to make the utmost use of the current gas and petroleum status. Numerous digging corporate ceased work till the situation becomes better and the terms of agreement for buying raw petrol is changed. It is sold now for 5 $ per thousand cubic feet which is less than the agreed upon price.

Finally, El-Sadat is astonished that the huge decrease in worldwide petroleum price for the fiscal years 2014/2015 and 2015/2016 will not gravely affect the budget deficit. This triggers the citizens' question of what are the real reasons behind the budget deficit. Is it the private funds or the tax evasion of the decrease in taxes or wasting public property and the poor management of the state resources? So many inquiries and questions that make experts rather than mere citizens wonder.

Mostafa Jibreel
Media Coordinator


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