( 3 minutes read)
· President Abdel-Fattah El-Sisi directed banks to provide facilities to citizens to replace old cars with gas-powered vehicles. The assistance, he referred included provisions for loans with very easy interest rate
· The country is planning to license gas-powered cars only and will stop giving licenses to new cars that run on gasoline
President Abdel-Fattah El-Sisi directed banks to provide facilities to citizens to replace old cars with gas-powered vehicles. The assistance, he referred included provisions for loans with very easy interest rates. The country is planning to license gas-powered cars only and will stop giving licenses to new cars that run on gasoline. These are state plans and people would be explained the details of the plan.
President called on Finance Minister Mohamed Ma’it to facilitate procedures for converting old cars to run on natural gas. The government would help people to convert their cars into natural gas, pointing to a zero-interest rate initiative.
In another significant development, finance minister Mohamed Ma’it said that Egypt would finish implementing 100,000 housing units during the fiscal year of 2020 -21. During 2020-21, another 105,000 units will be added in 2021-22. Also, 105,000 housing units during the fiscal year 2022-23 will come up to meet the housing needs of the country, particularly for those who are economically weak.
