The Egyptian Company for Metro Management & Operation is awaiting the cabinet’s approval to increase ticket prices to EGP 2.
An official source at the company said that a new note was prepared to be presented to the cabinet.
He added that the company was planning to maintain a price of EGP 1, while improving the first and second two carriages in the train and offering passengers access to these at a price of EGP 3-5.
The source said the company signed an agreement to import new ticket machines that will be supplied mid-2017. The new machines will calculate fares according to the number of stops.
Meanwhile, parliament’s Transportation Committee plans to summon heads of the Egyptian Company for Metro Management & Operation and the Egyptian National Railways to discuss their plans for development.
Member of parliament and committee member Hussein Khater said the Ministry of Transportation did not notify the parliament regarding any upcoming increases in both of the companies’ ticket prices.
He added that the committee has already asked for all information on operations and revenues of both companies, but has not yet received them.
He stipulated approving any increases to the need for maintenance and development, as well as revenues and losses.
The MP said that ENR suffered losses amounting to EGP 39bn, including EGP 22bn owed to the National Investment Bank.