Cairo – Mubasher: The Egyptian government plans to introduce three electricity stations generating 14.4 giga watts in the fiscal year 2016-2017, said minister of finance Amr El Garhy in a statement on Sunday.
The government's plan targets an additional 26,000 megawatts (MW) between 2014 and June 2018 by pumping investments worth EGP 153 billion ($17.24 billion) to bridge the gap between individual and industrial consumption, the minister elaborated.
He added that EGP 29 billion from the new budget have been allocated to support the electricity sector.
The government will also move forward with its plan to raise electricity prices without affecting those of the poor, the minister highlighted in his statement before the parliament regarding the budget for 2016-2017.
Ahead of the implementation of the new budget which is scheduled to begin on 1 July 2016, the government estimated that community support and benefits will amount to EGP 210 billion down from EGP 231 billion this year and up from EGP 198 billion last year.
Earlier in May, Egyptian President Abdel Fattah El Sisi stated that Egypt plans to double its electricity production in the coming period through investing EGP 400 billion.
