AFP, Cairo :
Egypt announced a major increase in electricity prices on Thursday as authorities continued to cut government subsidies under an IMF-backed economic reform package.
Electricity Minister Mohammed Shaker said prices would rise by between 18 and 42 percent for household bills starting from this month.
The government is cutting sweeping subsidies as part of a reform programme tied to its three-year $12 billion loan with the International Monetary Fund, which was approved in November.
Egypt announced a major increase in electricity prices on Thursday as authorities continued to cut government subsidies under an IMF-backed economic reform package.
Electricity Minister Mohammed Shaker said prices would rise by between 18 and 42 percent for household bills starting from this month.
The government is cutting sweeping subsidies as part of a reform programme tied to its three-year $12 billion loan with the International Monetary Fund, which was approved in November.
