Finance: 38,000 applications fulfilled the terms of the presidential initiative to replace obsolete vehicles

Dr. Mohamed Maait, Minister of Finance, confirmed that the total number of requests to replace obsolete cars (owners and rentals) to work with natural gas has exceeded 70,000 since the start of the presidential initiative, of which 38,000 applications met the stipulated conditions, and 500 new cars were delivered to the beneficiaries. Since the first of last April until now, the state's public treasury has borne 16.2 million pounds the value of the green incentive specified for each of them, and another 634 new cars are scheduled to be delivered within two weeks, pointing out that there are 9 thousand and 531 applications pending the initial approval of the auto companies, and 1671 applications. Waiting for the allocation of chassis and motor, and 7,000 applications that have received the initial approval of the auto companies and awaiting the approval of the banks.

 

The minister added that the presidential initiative to replace obsolete vehicles is subsidized by the state and targets middle and low-income groups, and there is no connection between the applicant’s receipt of a new car “model year” and his entitlement to the subsidy with a ration card, explaining that whoever gets a new car powered by natural gas will not be removed. Model of the year »within the framework of this presidential initiative, from the lists of those eligible for support with ration cards.

 

Ahmed Abdel Razek, spokesperson for the presidential initiative to replace cars, said that there are a number of requests that banks have rejected, for several reasons, including: The age of the applicant for installments exceeds 65 years, or the absence of a source of income for the applicant such as a housewife, or that the value of the car installment was greater than Half of the applicant's income, ensuring that all rejected applications are answered; To inform the applicants of the reasons for rejection, and each of them can appeal by submitting a complaint via the hotline "15707", to be answered within 3 working days.

 

He explained that the applicant must abide by the terms of the initiative announced on the official website of the initiative, which are: The applicant must be Egyptian, and not be under 21 years old and not more than 65 years old in the case of an installment request only, and that the car license is valid and in the name of the applicant and follows One of the governorates of the first phase: “Cairo, Giza, Qalyubia, Alexandria, Suez, Port Said and the Red Sea.” With regard to private cars, the license must be in the name of the applicant in the last two years from the launch date of the initiative on January 7, 2021.

 

He indicated that in the event that applicants enter incorrect data, whether it is personal or related to the car, short text messages will be sent on their mobile phones to enter again on the initiative's website www.gogreenmasr.com, review the conditions, and check the data when entering it from the reality of the number. Al-Watani and the vehicle driving license, pointing out that all inquiries about the initiative can be received through the hotline "15707", and the official page of the initiative on Facebook around the clock.