Egypt reviews fuel supply plan for summer

Egypt’s Prime Minister Moustafa Madbouly chaired a high-level meeting to review the plan for securing petroleum products and the necessary financial resources to meet electricity demands during the upcoming summer.

At the start of the meeting, Madbouly praised the coordination with the Central Bank of Egypt (CBE) in securing foreign currency to build strategic reserves, crediting its policies with boosting confidence and driving up foreign reserves and remittances.

Moreover, the meeting reviewed the CBE’s role in coordinating with relevant ministries to secure the financial resources required for importing fuel to operate power stations. The aim is to ensure adequate supplies for the electricity sector during peak summer months and maintain stable nationwide power generation. Officials also discussed the status of contracted fuel shipments and related payment procedures.

Discussions further addressed ongoing efforts to strengthen foreign reserves and ensure regular settlement of dues to international partners—key steps to supporting investor confidence and increasing production by foreign partners in the near term.

Attribution: Amwal Al Ghad English
Subediting: M. S. Salama