|
IDA Chairman on Sunday, February 1st, 2009 held a meeting with the Chamber of Chemical Industries at the Federation of Egyptian Industries to discuss the chamber members' problems. The increase in energy prices was on the top of their problems.
Energy is just a part of the problem and the increase in its prices is worldwide. In the beginning, the increase in the final product price was justifiable. However, after the world financial crisis and the decrease in the final product price all over the world, some procedures had to be taken to decrease these prices,
IDA Chairman confirmed.
IDA Chairman stated that we followed the decisions of Minister of Trade and Industry, to overcome the world financial crisis which comes in the second position after the crisis of the energy prices increase at the start of the last year. Some procedures were taken such as fixing the energy prices for factories till the end of the current year. As there was a second stage of raising prices but it was postponed till the end of 2009. In addition to paying the industrial lands value in installments, scheduling energy costs and decreasing customs tariff on food goods. Along with raising the benefits from industry modernization program especially in training and reducing the companies' share by 50%. The financial support allocated to industry reached LE7 billion besides supporting and crediting exports. LE1.2 billion were provided to subsidize the industrial zones development.
|