The Prime Minister, Mostafa Madbouly approved during the last week’s meeting, the proposed green incentive for car owners to replace their old cars with new ones running with natgas or dual-fuel models. Owners of private old cars can get 10% off the price of the new car with a cap of EGP22k. For taxis and microbuses, they can get a discount of 20% and 45% respectively, with an upper limit of EGP45k and EGP65k. These financial incentives are part of the government’s plan to convert 1.8mn cars, running using clean energy in an attempt to reduce dependency on petrol-fuel. Moreover, the Central Bank of Egypt (CBE) along with the Trade and Industry Ministry promised to provide EGP1.2bn low-interest financing to encourage the conversion process.
