﻿<!--<!DOCTYPE nitf SYSTEM "nitf-3-4.dtd">-->
<nitf>
  <head>
    <title id="Title">&amp; çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð</title>
    <docdata management-doc-idref="">
      <date.issue id="CreationDate" norm="" />
      <du-key id="rev-ver" generation="1" version="Default" />
      <du-key id="Parent-Version" version="" />
      <identified-content>
        <classifier id="newspro-nitf" value="r2" />
        <classifier id="Newspro-App" value="Epaper" />
        <classifier id="Content-Type" value="Story" />
        <classifier id="storyID" value="" />
        <classifier id="CmsConID" value="" />
        <classifier id="Desk" value="" />
        <classifier id="Source" value="" />
        <classifier id="Edition" value="" />
        <classifier id="Category" value="-1" />
        <classifier id="UserName" value="" />
        <classifier id="PublicationDate" value="20220103" />
        <classifier id="PublicationName" value="Hindustan" />
        <classifier id="IsPublished" value="Y" />
        <classifier id="IsPlaced" value="Y" />
        <classifier id="IsCompleated" value="N" />
        <classifier id="IsProofed" value="N" />
        <classifier id="User" value="" />
        <classifier id="Headline-Count" value="" />
        <classifier id="Slug-Count" value="0" />
        <classifier id="Photo-Count" value="0" />
        <classifier id="Caption-Count" value="0" />
        <classifier id="Word-Count" value="0" />
        <classifier id="Character-Count" value="0" />
        <classifier id="Location" value="" />
        <classifier id="TemplateType" value="1" />
        <classifier id="StoryType" value="Story" />
        <classifier id="Author" value="" />
        <classifier id="UOM" value="mm" />
        <classifier id="IndexPage" value="" />
        <classifier id="box-geometry" value="-7,40,950,284" />
        <classifier id="Epaper-Build" value="Build-No: 2.1.0.9, Dated: 04/12/2021" />
        <classifier id="Application" value="QuarkXpress 8" />
        <classifier id="MachineName" value="TV0254" />
        <classifier id="ProcessingDateTime" value="Mon 03 Jan 2022 07:00:24" />
      </identified-content>
      <urgency id="home-page" ed-urg="0" />
      <urgency id="priority" ed-urg="0" />
      <doc-scope id="scope" value="0" />
    </docdata>
    <pubdata type="print" name="Hindustan" date.publication="20220103T000000+5.30" edition.name="RPAjmCity" edition.area="RPAjmCity" position.section="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~" position.sequence="01" ex-ref="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~" SectionName="" />
  </head>
  <body>
    <body.head>
      <hedline>
        <hl1 id="kicker" class="1" style="Shoulder" MainHead="false">
          <lang class="3" style="kicker" font="Patrika18" size="12">
</lang>
        </hl1>
        <hl1 id="Headline" class="1" style="Headline" MainHead="true">
          <lang class="3" style="Headline" font="Patrika18" fontStyle="Bold" size="15">Egypt hikes domestic fuel prices as it rounds off subsidy reform
</lang>
        </hl1>
        <hl1 id="Subhead" class="1" style="Subhead" MainHead="true">
          <lang class="3" style="Subhead" font="Patrika18" fontStyle="Bold" size="15">
</lang>
        </hl1>
        <hl1 id="Byline" class="1" style="Byline" MainHead="true">
          <lang class="3" style="Byline" font="Patrika18" fontStyle="Bold" size="15">Reuters, Cairo
</lang>
        </hl1>
      </hedline>
      <summary></summary>
      <quotes>
        <quote></quote>
      </quotes>
    </body.head>
    <body.content id="Bodytext">
      <block>
        <media id="1" media-type="image">
          <media-reference id="tn" source-credit="" data-location="1" ImgOrderNum="" source="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~_SubGroupImage_720446704_tn.JPG" Units="pixels" width="50" height="50"></media-reference>
          <media-caption id="Caption1" font="">
            <hl2></hl2>
          </media-caption>
          <media-reference id="tn" source-credit="" data-location="2" ImgOrderNum="" source="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~_SubGroupImage_720325568_tn.JPG" Units="pixels" width="50" height="50"></media-reference>
          <media-caption id="Caption1" font="">
            <hl2></hl2>
          </media-caption>
          <media-reference id="tn" source-credit="" data-location="3" ImgOrderNum="" source="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~_SubGroupImage_720436736_tn.JPG" Units="pixels" width="50" height="50"></media-reference>
          <media-caption id="Caption1" font="">
            <hl2></hl2>
          </media-caption>
          <media-reference id="tn" source-credit="" data-location="4" ImgOrderNum="" source="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~_SubGroupImage_715957792_tn.JPG" Units="pixels" width="50" height="50"></media-reference>
          <media-caption id="Caption1" font="">
            <hl2></hl2>
          </media-caption>
          <media-reference id="tn" source-credit="" data-location="5" ImgOrderNum="" source="03P1 StephenHawkings_tn.JPG" Units="pixels" width="50" height="50"></media-reference>
          <media-caption id="Caption1" font="">
            <hl2></hl2>
          </media-caption>
        </media>
      </block>
      <p style=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Egypt introduced its latest round of fuel subsidy cuts on Friday, raising domestic prices by between 16 percent and 30 percent to bring them into line with their real cost, as it nears the end of an IMF-backed economic reform programme.
</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Scaling back fuel subsidies that have been a strain on the budget for decades was a key plank of a three-year, $12 billion reform package signed with the International Monetary Fund in 2016, as Egypt's economy struggled to recover from the turmoil that followed its 2011 uprising.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">But the changes will push up prices for transport, food products and other goods, adding to economic pressure on Egyptians who have already lived through several years of austerity.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">The government had told the IMF it would remove subsidies entirely from most fuel products by June 15 after increasing fuel prices steadily over the past four years.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">It did not explain the delay, but austerity measures are politically sensitive and have dented the popularity of President Abdel Fattah al-Sisi.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">The government broadcast messages this week explaining why</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">the price rises were needed. Sisi has repeatedly told Egyptians that austerity is the price for greater economic stability.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Energy subsidies had eaten up as much as 20 percent of the government's budget in recent years.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Starting at 9 a.m. (0700 GMT), the price of widely used 92 octane grade petrol rose by 18.5 percent to 8 pounds (48 U.S. cents) a litre, and diesel rose by 22.7 percent to 6.75 pounds.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">The price of cooking gas cylinders rose by 30 percent to 65</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">pounds for domestic use and 130 pounds for commercial use.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Most fuel prices are now in line with their costs, though the government is still subsidising fuel for bakeries and power generation, a petroleum ministry official said.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">The official confirmed the government would link domestic fuel prices to international market prices in September. It introduced a similar indexing mechanism for 95 octane gasoline in April.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Some taxi and rickshaw drivers in Kafr al-Sheikh governorate, north of</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Cairo, had already raised tariffs on Friday. The prime minister's office said it was ordering minibuses and taxis to raise fares by 10-15 percent across Egypt.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Analysts had speculated that officials would wait until after the end of the continental soccer championships, which Egypt is hosting until July 19, before announcing the price rises.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">"We were expecting an increase after the end of the African Cup of Nations, but it seems the government no longer expects any reaction from the people," said Ibrahim Amin, a teacher in the town of Kafr al-Sheikh.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Though inflation has been easing since 2017, the headline figure was still 14.1 percent in May.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">"The price rises will crush us," said 32-year-old Saleh Awadhi in Alexandria. "The prices of everything will increase because of the rise in petrol and diesel, and that will affect ordinary citizens." Egypt's economic reforms since 2016 have included a sharp devaluation of the pound and the introduction of a value-added tax.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">The measures have improved macroeconomic indicators but have increased the financial strain for tens of millions of Egyptians, many of whom live in poverty.</lang>
      </p>
    </body.content>
  </body>
</nitf>