Hatem Saleh: 50 Steel Factories Swallow 60% of Power

The minister of Industry and Foreign Trade, Hatem Saleh, said  about 50 steel factories swallow 60% of total power subsided to the industrial activity in Egypt. This reflects the defect of this system, although the local price of steel approaches the global one.

In statements to Amwal Al Ghad, Hatem Saleh asserted that the ministry seeks achieving all the elements of industrial development, and considering the steel industry. On the other hand, the ministry exerts intensive efforts for rationing the support system and making sure it goes to those who deserve it, as well as using it in achieving high rates of industrial growth in the coming period.

Saleh added that the procedures of rationing are for the people, the coming period will witness more political changes in the support policy in general, and the subsidy to the industrial activity in particular. The ministry has set vision for these procedures.