Written by: Fatma Younis
The Prime Minister settled the controversy raised on social media regarding statements attributed to him about load shedding for a period ranging from six to eight hours daily. He confirmed that what was circulated does not reflect the reality of what he proposed during the discussion of scenarios for dealing with rising global energy prices, and that he did not announce the implementation of this measure.
The Prime Minister explained that his talk during a discussion session as part of the Egypt Forum activities dealt with the alternatives available to the state to face the increase in energy prices, in light of the pressures imposed by global economic and geopolitical developments on the public budget. He stressed that the government has chosen at the current stage to bear the financial burdens resulting from rising prices, to avoid imposing additional burdens on citizens.
During the session, which addressed the challenges and future of the energy sector, the Prime Minister reviewed three scenarios studied by the government to deal with the significant rise in global prices and the cost of providing petroleum products. The first scenario was to pass the entire cost increase to citizens by raising prices, while the second scenario is based on the state bearing the cost difference for a specific period despite the increase in public debt and borrowing. The third scenario involves adhering to the financial allocations specified in the public budget while purchasing smaller quantities of petroleum products, confirming that these alternatives were reviewed for discussion and not to announce their implementation.
He pointed out that the public budget for the current fiscal year was prepared based on an estimated price per barrel of oil of seventy-five dollars, but the rise in the price to more than one hundred and ten dollars imposed additional financial burdens due to the difference between financial estimates and actual prices in global markets. He stressed that the government is keen to balance securing the state's energy needs and maintaining financial stability without imposing additional burdens on citizens.
At the end of his speech, the Prime Minister warned of the danger of the spread of rumors and their impact on citizens' awareness, considering that distorting statements and taking them out of context contributes to stirring confusion. He emphasized the importance of verifying the accuracy of information and its sources to counter attempts to destabilize in light of the current challenges.
