Cairo – Mubasher: Revenues collected from the Egyptian General Petroleum Corporation (EGPC) fell by 32.2% year-on-year during the first nine months of fiscal year 2018/2019, according to a recent report released by the ministry of finance.
Tax and non-tax revenues collected from EGPC amounted to EGP 17.33 billion in the July-March period of FY18/19, compared to EGP 25.59 billion in the year-ago period.
Year-on-year, tax revenues from EGPC retreated to EGP 16.8 billion in the nine-month period of FY18/19 from EGP 22.12 billion.
Meanwhile, non-tax revenues from EGPC plunged to EGP 533 million from July 2018 to last March, compared to EGP 3.47 billion.
Egypt expects to collect tax revenues of EGP 47.24 billion and achieve return of equity of EGP 25 billion from EGPC during the current fiscal year.
