Finance Minister Mohamed Maeet said the ministry aims to expand in carrying out the presidential initiative on replacing old cars by natural gas-powered vehicles in coincidence with the United Nations climate change conference (COP27).

In a statement issued on Saturday 08/10/2022, the minister pointed out that new cities and governorates will be covered by the initiative to help citizens replace cars manufactured over more than 20 years ago.

Such efforts aim to increase the number of beneficiaries and remove any obstacles they may face to replace their old vehicles.

The minister pointed out that the state bore more than EGP570 million of incentives offered for the beneficiaries.

Source: State Information Service Egypt