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Sunday, 19 November 2017

Investors to discuss solution for rising natural gas bills for industry with MPs on Tuesday

Industrialists to discuss rising natural gas bills with House on Tuesday: A delegation from the Union of Egyptian Investors Association (UEIA) will meet with the House of Representatives’ Industry Committee on Tuesday to discuss challenges they’re facing due to rising natural gas bills, UEIA boss ad Oriental Weavers founder Mohamed Farid Khamis said on Thursday, Al Shorouk reports. Natural gas supply has been interrupted at a number of factories that fell behind on bill payments, which they say they are unable to make, Khamis said. We had heard last week that the House was looking into repricing gas for industry and canceling real estate taxes on factories following complaints from industry figures. Egypt’s manufacturing sector has been pushing for years to lower gas prices, but officials had hinted in August that it was unlikely the Ismail Cabinet would follow through on the decision.

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