Watch out, Kramers: Families that consume more than 1,000 KW of electricity, own three cars or pay more than EGP 200k in value-added taxes will be removed from the state subsidy program under the fourth phase of the Great Subsidy Rolls Purge, Supply Minister Aly El Moselhy said at a press conference on Saturday, Al Ahram reported. The ministry is giving citizens who are eligible for social welfare until August to legalize their status to avoid being taken out of the program, AMAY reported Meselhy as saying. The government is aiming to remove another 400k Kramers from the subsidy program during the fourth phase, which began on 4 July and will finish at the end of September. Egypt has so far removed 8 mn citizens from its subsidy program, Al Shorouk cited the minister as saying.

Other news from the presser: The ministry aims to implement 21 projects over 11 governorates at the cost of EGP 40 bn to create 400k direct and indirect jobs in collaboration with the Internal Trade Development Authority, Al Shorouk separately noted. The minister also told reporters that Egypt plans to establish a commodity stock market by the end of the year, and announced that this year will see the inauguration of a trade and logistics project in Gharbiya. He did not provide more details on these plans.