Back to the complete issue
Thursday, 23 March 2017

Will metro ticket prices be hiked after all?

The Ismail Cabinet has apparently given preliminary approval to doubling the cost of a Cairo Metro ticket, with fares likely to riseto EGP 2 from EGP 1, Al Masry Al Youm reports, citing an unnamed government official. Cabinet tasked Transportation Minister Hisham Arafat with the daunting task of selling the idea to House of Representatives’ Transportation Committee yesterday, which went down as expected. The grandstanding branch of government declared its refusal to accept the price increases, with some committee members whining that Cabinet planned to move ahead and implement the measure without MPs’ consent, Al Mal reports. Others urged Arafat to allow them time to form a panel to study the effects of a hike on citizens, according to Al Borsa.

Prime Minister Sherif Ismail had to wade into the fray, saying that the government was studying a number of ways of helping Cairo Metro’s grow its revenues. In statements to the press on yesterday, Ismail made the case for why the Metro’s finances needed to be overhauled.

Don’t hold your breath: A quick skim through our files shows debates about raising Cairo Metro ticket prices in October 2016, August 2016, June 2016, March 2016, February 2016, November 2015, July 2015…

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.