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Egypt spends EGP 92.8m in green incentives to replace 4kobsolete cars: Finance Minister - Daily News Egypt

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Egypt spends EGP 92.8m in green incentives to replace 4kobsolete cars: Finance Minister

Government aims to deliver 300 new microbuses per month on first-come, first-served basis


Egypt disbursed EGP 92.8m as green incentives for citizens who wanted to replace their obsolete vehicles with new vehicles that run on natural gas, Minister of Finance Mohamed Maaitannounced on Saturday.

He added that the government delivered the first new dual-fuel microbus under the initiative, with many more to come during the month, according to the first-come, first-served basis. The ministry aims to deliver 300 new microbuses per month. Since April, 4,127 passenger cars and taxis have been delivered under the initiative.

He added that the Ministry has completed the public bidding procedure, so that old cars can be removed from scrap yards in Greater Cairo, Alexandria, Suez, and the Red Sea governorates, to dispose of them in a safe and environmentally friendly manner. The old vehicles’ components could be used in multiple industries that rely on iron, rubber, plastic, and fibre.

Amgad Mounir, Chairperson of the Vehicle Replacement Fund at the Ministry of Finance and Executive Director of the Car Replacement Initiative, said that the total valid requests completed on the initiative’s website have so far reached about 31,000 requests, and as of mid-August, 4,701 old cars have been scrapped.

Ahmed Abdel Razek, the official spokesperson for the Vehicle Replacement Initiative, said that the ministry is constantly working to filter the requests that are received on the initiative’s website, by rejecting those with incorrect data.

The initiative aims to replace old cars that were manufactured more than 20 years ago with new, advanced dual-fuel cars through a package of incentives.

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https://dailyfeed.dailynewsegypt.com/2021/08/21/egypt-spends-egp-92-8m-in-green-incentives-to-replace-4kobsolete-cars-finance-minister/
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