lastests post

Finance Minister: Inclusion of 5 new governorates in the presidential initiative to replace vehicles

Minister of Finance Mohamed Maait confirmed that we are continuing to expand the base of beneficiaries of the presidential initiative to replace obsolete vehicles that have been manufactured for 20 years or more with new cars powered by natural gas, in implementation of presidential mandates to maximize efforts to transform the green economy, in conjunction with hosting the Climate Summit in Sharm El Sheikh, explaining that The governorates of Ismailia, Sharkia, Beheira, Beni Suef, and Sohag were included in the presidential initiative to replace vehicles; In a manner conducive to facilitating citizens’ ownership of “Model of the Year” cars that are economical and environmentally friendly, through large credit facilities, and in line with the sustainable development goals and “Egypt Vision 2030.”

The minister added that the state’s public treasury bore more than 590 million pounds in value of the “green incentive”, from which more than 24,000 citizens have benefited so far through their participation in the presidential initiative to replace vehicles and they received new cars. In a way that contributes to reducing air pollution, reducing harmful carbon emissions and reducing traffic congestion as a result of the frequent breakdowns of old cars, as well as reducing pressure on fuel consumption by replacing it with natural gas, pointing out that the private sector is an authentic partner in the success of the presidential initiative to replace vehicles and achieving their targets, in a way that helps move the wheel of the economy and create more job opportunities.

Amjad Mounir, First Assistant Minister, Chairman of the Board of Directors of the Vehicle Replacement Fund, said that coordination is underway with the new governorates, as the initiative management team was assigned to cooperate with specialists in these governorates to inspect the proposed collection yards for old cars to ensure that they meet the technical and environmental conditions that must be met in the collection yards. Old cars, and the start of preparations for training workers in the governorates, car collection yards, traffic and bank branches. 31 banks and about 500 of their branches participate in the initiative.

He added that 24,000 old cars between “my owners”, “taxi” and “microbuses” were scrapped, and the number of requests that fulfilled the conditions reached more than 42,000 requests on the initiative’s website, explaining that there is continuous coordination with representatives of car companies, to work on Facilitating the procedures for handing over new cars to beneficiaries of the initiative to replace obsolete vehicles, pointing out that the conditions for applying in the initiative include that the old car has been manufactured for 20 years, a taxi license in the name of the applicant at the time of participation in the initiative, and a car owner’s license in the name of the applicant for at least two years at the time of participation .

Ahmed Hussein, the official spokesman for the Vehicle Replacement Initiative at the Ministry of Finance, explained that the initiative’s administration is constantly working on following up the application procedures on its website, by entering the initiative’s website: “”, registering its data and participating in the initiative, stressing that The software update of the initiative’s electronic platform has been completed, enabling the citizens of the five new governorates to participate in the initiative, in coordination with the various concerned authorities, and it will be made available to citizens to participate as soon as the five new governorates finish preparing the yards for collecting old cars, stressing that the initiative will be launched in the governorates. The new five are under the same conditions applicable in the governorates of Cairo, Giza, Qalyubia, Alexandria, Port Said, Suez, the Red Sea, Luxor, Aswan and Sharm El Sheikh.

Related Articles

Back to top button