Egypt collects $24mln from crackdown on electricity theft in 6 weeks

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Egypt has collected around EGP 1.2 billion in just a month and a half by cracking down on electricity theft, Minister of Electricity Mahmoud Esmat announced.

During a meeting headed by Prime Minister Mostafa Madbouly, Esmat added that this amount was secured through fines imposed on violators as part of a broader effort to reduce commercial losses.

Esmat noted that the installation of more code meters at various facilities is helping further reduce these losses.

The meeting tackled efforts to secure petroleum materials for power stations, with Madbouly emphasizing the importance of ensuring a continuous supply of electricity to meet both daily and industrial needs.

Madbouly also highlighted ongoing efforts to boost domestic petroleum production to reduce imports and alleviate pressure on the state budget, despite global geopolitical challenges.

On his part, Minister of Petroleum and Mineral Resources Karim Badawi discussed efforts to ramp up the production of petroleum materials and reported on productive meetings with international research and exploration companies.

He also confirmed that steps are being taken to settle the dues of foreign partners, encouraging further investment in Egypt’s energy sector.