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Tourism sector in EGP 71.9m debt to 4 electricity companies: Tourism Ministry official Non-performing bodies will schedule receivables, with several facilitations and incentives in payment
The tourism sector in Egypt owes approximately EGP 71.9m to four electricity companies, an official at the Ministry of Tourism said. A source at the Ministry of Electricity said the total dues owed to the Upper Egypt Electricity Production Company (UEEPC) amount to EGP 28.7m. Dues owed to Canal Company for Electricity Distribution (CCED) stand at EGP 21.6, while the sector owes the South Cairo Electricity Distribution Company (SCEDC) EGP 17m and EGP 4.6m to the North Cairo Electricity Distribution Company (NCEDC). UEEPC owns stations of Aswan, Abu Simbel, Kom Ombo, Edfu, Nubia, Luxor, Qena, and Sohag. CCED operates stations in Ismailia, Port Said, Suez, the Red Sea, Sinai, Sharm El-Sheikh and Sharqeya. SCEDC serves the areas of Haram, Qalaa, Maadi, Helwan, Sheikh Zayed and Dokki in Greater Cairo, as well as a number of other regions. NCEDC serves Heliopolis, Nasr City, Qanater, Abbasia, and New Cairo, among other areas. The source said due to the adverse conditions in the tourism sector, companies have refrained from cutting off electricity from non-paying customers, and bills have been scheduled for payment in instalments. He explained that payments on receivables were scheduled with several facilitations and incentives, to be paid over a maximum period of 24 months. The cabinet agreed last month to postpone the debts of the tourism sector to governmental bodies for six months, without any interest or penalties, to be paid over 24 months. These include electricity, water, sanitation, gas and social insurance debts. According to the source, troubled companies will be obliged to pay their electricity bills as well as late payments, as the Ministry of Electricity is also suffering financially. "The tourism sector in the governorates of Fayoum, Beni Suef, Assiut, and New Valley are not in debt to the Middle Egypt Electricity Distribution Company," he added. CCED Chairman Mahmoud El-Sayed said the company received instructions from the Minister of Electricity to provide all the requirements of hotels nationwide, to support the sector in the face of the challenges it has been facing. He noted that overdue debts from resorts and hotels in Sharm El-Sheikh will be paid in instalments over 24 months.
