Vehicle replacement initiative aims to swap 250,000 cars in first phase: minister ...Egypt

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Vehicle replacement initiative aims to swap 250,000 cars in first phase: minister
The first phase of the presidential initiative to replace aging vehicles is aiming to replace 250,000 obsolete cars in the governorates of Cairo, Giza, Qalyubia, Alexandria, Suez, Port Said and the Red Sea, Minister of Finance Mohamed Maait announced. The minister said in mid-March that almost 60,000 Egyptians had registered on the initiative’s website to replace their cars with alternatives that run on natural gas. Under the initiative, private car owners can get 10 percent off of the cost of a new car, up to  EGP 22,000, and taxi owners can get a 20 percent incentive, up to EGP 45,000. Maiit also announced new measures under which the initiative will expand, which include: 1 – A study to i

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