Cairo – Mubasher: The Egyptian prime minister Mostafa Madbouly announced that the presidential initiative for consumption stimulation will be launched on Sunday, 26 July.
The government will inject EGP 12.25 billion into the initiative as part of its plans to alleviate the coronavirus (COVID-19) crisis, Madbouly added in a statement on Thursday.
The initiative is aimed at encouraging citizens of different segments of society to buy local products with a minimum amount of EGP 125 billion by giving holders of ration cards a 10% discount on all durable and nondurable consumer products, the country’s finance minister Mohamed Maait noted.
Holders of ration cards will get a subsidy of EGP 200 per individual with a maximum amount of EGP 1,000 for each card. The subsidies will cost the state treasury an amount of EGP 12.25 billion.
In addition, products will also be available online on the initiative website: www.mobadra.gov.eg.
