Egypt scraps Hydro Power Plant Executive Authority
CABINET WATCH- Egypt scraps Hydro Power Plant Executive Authority: The Madbouly Cabinet approved draft legislation to abolish the Hydro Power Plants Executive Authority during its weekly meeting last week. Hydroelectric assets would be transferred to a new Renewable Energy Development Agency that would be run by the Electricity Ministry.
The cabinet also:
- Approved the Trade Ministry’s request to extend the international exhibitions subsidy program until the end of the current fiscal year using EGP 125 mn from the Export Development Fund’s budget;
- Agreed to install temporary smart meters for buildings that illegally obtain electricity;
- Agreed in principle to hit pause on any procedures for seizure of faltering industrial, tourism, and hospitality projects.