The Trade and Industry Minister Nevine Gamea reported on Friday that the President Abdel Fattah El Sisi, instructed the government to design an integrated programe that will convert obsolete car models, whether taxis or microbuses, to run with natural gas.
Gamea explained that President El Sisi, directed concerned officials to include passenger cars in the programme, especially those more than 20 years old.
In addition, offering an appropriate cash incentives for owners of old vehicles, who want to replace them with new natural gas-powered ones.
Meanwhile, 240,000 microbuses are working on diesel and will be difficult to convert to natural gas fuels. For these vehicles, the government is considering to provide soft loans valid for four years to ensure they are replaced with newer models that are capable of running on gas.
On other hand, the officials explained that each vehicle will be converted with a total cost ranging from EGP 8,000 and EGP 12,000, and the cost could be funded by small-interest loans.
Moreover, the programme aims to replace 50,000 taxis- especially the vehicles that have been in use for 20 years or more. The programme is set to also replace 1.3m passenger cars over two years at EGP 10bn.
Also, the programe aims to provide the financing procedures for the consumers, as well as boosting economic saving, which would serve the interest of the people from rationalizing petrol consumption.
Noteworthy, El Sisi urged the officials to organise an integrated exhibition with the participation of major international automotive companies for those wishing to convert or replace their old cars. Also, he urged them to increase the awareness programs on the benefits of using the natural gas-powered vehicles rather than petrol engines.
It is worthy to note that in November, El-Sisi instructed the government to take further steps in motivating citizens to convert their gasoline-powered vehicles to natural gas-operated ones by simplifying the conversion procedures and facilitating its expenses.