FEI Discusses Decreasing Reliance on Petroleum

During its 8th meeting last week, board of Federation of Egyptian Industries (FEI), headed by Galal El Zorba, discussed the strategies of decreasing the petroleum products’ support. The board discussed the plans of using natural gas, presented by Pro.Tamer Abou Bakar, head of energy committee in FEI. The meeting concluded to the necessity of using natural gas instead of petroleum products in different usages, in addition, its cheap price.

The study revealed that the policy of supporting the petroleum products with no limits and for long periods resulted in increasing the support value during 10 years, from EGP 1-10 billion, misusing the resources of the countries depleted of petroleum, gas; and not conserving the use due to the diminutive price, and not using modern technology in conservation. The study concluded to the necessity of increasing the support gradually in 5-7 years period with a particular program, and creating new mechanisms for support to be oriented to its users by specifying the value of support per one family.

The council discussed also the problem of the suspended factories, and finding solutions for re-operating them. This is to protect these industries as well the workers’ rights, and the necessity of issuing organized legislations to withdraw from market when facing obstacles.