Cairo – Mubasher: Egypt’s plan to replace obsolete cars manufactured 20 years or more with locally-manufactured ones operating on natural gas will come into effect before the end of March, the Minister of Finance, Mohamed Maait, said.
A protocol regulating the measures for implementing the initiative will be signed between the concerned ministries, car manufacturers, and insurance companies, Maait added in a statement on Tuesday.
The green car incentive will cost the country EGP 7.1 billion in the first phase of the initiative to replace 250,000 old cars with natural-gas-powered ones in Cairo, Giza, Qaliubiya, Alexandria, Suez, Red sea, and Port Said, he noted.
