Prime Minister Moustafa Madbouly has directed the government to secure the necessary funding for petroleum products required to operate power plants and to settle outstanding debts owed to electricity companies. The directive came during a meeting on Sunday with Finance Minister Ahmed Kouchouk, Minister of Electricity Mahmoud Esmat, and Minister of Petroleum Karim Badawi. The discussions addressed the backlog of payments owed by various government bodies to electricity companies, including proposals for financial settlements to resolve overlapping obligations. Madbouly stressed that no further arrears should be allowed to accumulate, to support the sector's resilience in maintaining efficient service delivery and an uninterrupted power supply. He further reaffirmed the government's commitment to ensuring a stable electricity supply across all sectors, despite ongoing global and regional challenges. For his part, Minister Kouchouk confirmed that the Finance Ministry is working in close coordination with the relevant ministries to provide the required funding. He added that the government is stepping up investment in the energy sector as part of a broader strategy to enhance Egypt's economic competitiveness and ensure long-term energy security. Attribution: Amwal Al Ghad English Subediting: M. S. Salama Ask ChatGPT Ask ChatGPT
