Finance Minister Mohamed Maait said more than 20,000 people benefited from the presidential initiative for replacing old cars – manufactured over 20 years ago – with new ones running on natural gas.
The new cars have been handed over during the 2021-2022 fiscal year.
In statements on Saturday 25/06/2022, he said the state treasury allocated about EGP 465 million as a green incentive for the initiative in order to contribute to curbing air pollution and reducing gas emissions.
He said the private sector is a key partner in rendering the initiative successful within the framework of ongoing efforts to keep the wheel of economy moving forward and create more jobs.
Sharm el Sheikh has joined the initiative alongside Luxor, Aswan, Cairo, Giza, Qalyubia, Alexandria, Suez, Port Said, and the Red Sea, he said, noting that the state is keen on expanding the base of beneficiaries of the initiative.
Source: State Information Service Egypt