Egypt- Removal of cotton subsidies trial postponed

(MENAFN- Daily News Egypt) A Cairo Administrative Court adjourned Tuesday the removal of the cotton subsidies case to 16 June.

The lawsuit demands the cancellation of the governments' decision to remove cotton cultivation subsidies. Lawyer Samir Sabry said the decision will harm the cotton and textile industry in Egypt, and that it is an unfair measure against farmers.

Last January, the Minister of Agriculture and Land Reclamation Adel El-Beltagy announced that the state will not offer any form of subsidies for cotton farmers or spindles during the next season.

El-Beltagy pointed out that long staple cotton cultivation is very expensive, and that there is no demand for it domestically or internationally.

Since its inauguration in June 2014, President Abdel Fattah Al-Sisi's administration has taken a string of decisions often classified as austerity measures.

In a bold step frequently feared by past ruling regimes, Al-Sisi's government increased prices for petroleum products last year, after reducing energy subsidies.

Daily News Egypt

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