Egyptian President Abdel Fattah Al-Sisi has rejected the cabinet’s decision over lifting the public underground metro’s fare, Al-Mesryoon Agency said.
The decision was made following a recommendation from the Minister of Transportation Dr Galal Saeed in order to cope with the severe losses suffered by the state company running the Metro since the rise in electricity prices as well as the Egyptian pound’s fall against the US dollar.
The agency added that Sisi has demanded finding untraditional means to address losses, especially for a facility that serves at least 2 million citizens on every day.
Sources pointed out that Sisi’s rejection for the decision came after receiving reports from sovereigns about the possibility of getting negative reactions if public transportation prices increased, especially the underground metro which is considered the major mean of transportation for a large segment of the Egyptian population.
The same sources reported that the Council of Ministers checked the financial data for the Egyptian Company for Metro Management & Operation, which has proved severe losses the company suffered over the past years. The report explained that the revenues of the 3 metro lines have not been covering the running cost including; spare parts purchase, regular maintenance expenses, and wages.
The Egyptian government has been considering several proposals to increase the underground’s ticket price to EGP 3.
Following a request from the Ministry of Transportation to raise the metro’s fare to EGP 1.5, the government has decided to increase the metro’s fare gradually until it reaches EGP 2 which was later rejected by president Sisi.