Daily News Egypt: Government Approval to Hold Plants Accountable for Gas Consumption Is Useless - Suez Steel Chairman

Prime Minister Ibrahim Mehleb has agreed to hold all industrial companies accountable for their actual gas consumption rather than their contracted quantities, according to Minister of Trade and Industry Mounir Fakhry Abdel Nour.

In a press release on Saturday, Abdel Nour said the decision to hold industrial companies accountable for using natural gas in operating their plants will be based on actual consumption, not the contracted quantities with the Egyptian Natural Gas Holding Company (EGAS). This will be done with a retroactive effect extending to January 2011.

However, Chairman of Suez Steel Company Gamal El-Garhy said that this decree is currently useless, and that the more important step would be providing gas to plants. This procedure was not necessary to protect the steel industry, El-Garhy said.

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