July 25, 2023. Ministry of Finance’s green incentive presidential initiative for new natural gas operating vehicles allocates LE 675 million to fund the replacement of citizens’ outdated vehicles.
The initiative aims to facilitate the process for citizens to replace their “out of date” vehicles with new units that are environmentally-friendly. The initiative’s purpose is to present a new solution as part of the government’s efforts to reduce air pollution and harmful carbon emissions.
In cooperation with the Federation of Egyptian Industries, invitations were sent to the Automotive Division of the General Federation of Chambers of Commerce to encourage their participation in the development of the industry.
First Assistant Minister of Finance and Chairperson of the Vehicle Replacement Fund at the Ministry Khaled Nofal explained that, to ensure implementation, citizens of Beni Suef and Sharqiya will soon have their cars discarded in a yard in Greater Cairo’s Abu Rawash area, to soon receive their new natural gas operating cars.
He explained that the initiative offers opportunities for the business community and manufacturing industry to participate through investment and idea proposals.
The government is working to gradually expand the initiative across all governorates, in efforts to expand the green transformation initiatives.
