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MB MPs to Confront Government on Lift of Petrol Product Subsidies
MB MPs to Confront Government on Lift of Petrol Product Subsidies
Sources conversant with the Ministry of Petroleum announced that petroleum prices will be freed in the Egyptian market in order to cover the ministry’s financial debt crisis which proved to reach 100 billion LE according to MB Parliamentary Bloc Member MP Ashraf Badruddin in his statement to Ikhwanweb explaining that while discussing the financial statement of the Ministry of Petroleum in one of the parliament sessions, the debt amount was revealed.
Tuesday, March 17,2009 14:17
by Basma Omar IkhwanWeb

Sources conversant with the Ministry of Petroleum announced that petroleum prices will be freed in the Egyptian market in order to cover the ministry"s financial debt crisis which proved to reach 100 billion LE according to MB Parliamentary Bloc Member MP Ashraf Badruddin in his statement to Ikhwanweb explaining that while discussing the financial statement of the Ministry of Petroleum in one of the parliament sessions, the debt amount was revealed.

NDP Organizational Secretary Ahmed Ezz attributed this debt crisis to the failure to sell petroleum products to the Egyptian citizen at subsidized prices ignoring the intentional selling and exportation of natural gas at cheap prices to countries abroad which has led the Ministry of Petroleum to lose around 18 billion dollars annually according to PM Ahmed Nazif.

Badruddin affirmed the presence of a governmental policy aiming to raise the prices on petroleum products for the Egyptian consumer until it ends up losing all subsidies accusing the government of ignoring the bad economic situation the Egyptian citizen has already reached.

Badruddin added that "if the government wanted to solve the problem without harming the Egyptian citizens, it could by three ways. First, by lifting the subsidies on petroleum exports to European countries; second, by preventing the exportation of gas to the Israeli occupational entity and save the subsidies on petroleum products internally to help lift the burden off Egyptians" shoulders; and third, by lifting subsidies offered to cement, fertilizer, iron, and steel manufacturing companies. Despite these companies" profits by 1000%, the government offers them subsidized petroleum products, and it is unknown in whose interest this is."

Badruddin confirmed that, on their part, MB MPs will firmly confront the decision to lift subsidies on petroleum products stressing that the faulty policies adopted by the ruling regime will eventually lead to an explosion of the Egyptian society warning from the soaring of prices on goods and services forming a great burden Egyptian citizens aren"t able to bear.

Badruddin further explained that the crisis lies in the governmental failure to solve the problems arising consecutively, as when the government is faced with any crisis it finds no one but the exhausted Egyptian citizen to bear the results, a matter which signals a threat to the peace and security of the Egyptian society.


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