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Elham AbolFateh

Business

Electricity owes EGP 126 billion to Petroleum: Source

Thursday 22/February/2018 - 08:50 PM
Sada El Balad
Ahmed Moamar
A well-places source at the Ministry of Petroleum unveiled that dues of the Ministry of Electricity to the General Authority of Petroleum has grown to EGP 126 billion at the end of last December.
This sum is compared to EGP 60 billion at the first half of June 2017.
The source added that both ministries of Finance and Electricity should repay those obligations.
As the Ministry of Finance is responsible for differences in prices of petroleum products as part of subsides. 
In the same line، Electricity Ministry should spay EGP 90 billion to Petroleum.
The monthly bill of petroleum products of electricity reaches above EGP 7 billion.
The Ministry of Finance pays only EGP 2 billion.
The rest EGP 5 billion becomes brought forward dues. 

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