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Thursday, 18 August 2016

First electricity prices, now metro prices increase

First electricity prices, now Cairo Metro prices increase: The cost of a ticket to ride the Cairo Metro will rise, said Prime Minister Sherif Ismail. “We have yet to decide on the rate of the increase, but services will not be sustainable if the ticket price does not change,” he added. This is the first time the Ismail government has outright said it would increase ticket prices after months of rumors, leaks and half-hearted denials, largely by the Transportation Minister. Cabinet is studying multiple proposals on how to raise prices, but the lowest-income citizens will be shielded from any hikes, said cabinet spokesperson Hossam Qawish in call-in to Al Hayat Al Youm on Al Hayat TV (watch: runtime: 5:13). Qawish insisted the price rises will not break the EGP 3 or EGP 5 barrier. Should ticket prices rise, it would be the second time in a month that a public service or utility rose in price; the state earlier this month raised electricity prices.

Also yesterday: Ismail reiterated that the government will not fire 3 mn public service and stressed the need to boost local content in Egyptian manufacturing.

Charm offensive: Ismail made his remarks on the sidelines of the weekly cabinet meeting. Other government officials took advantage of meetings yesterday as part of the national dialogue to sell the economic reform program to the public to chatter about developments in their portfolios. We have more below.

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