GASC issues inter. tender to buy 42.5k tons of cooking oil

CAIRO – 16 November 2017: The General Authority for Supply Commodities (GASC) issued Thursday an international tender to purchase 42,500 tons of cooking oil to meet the needs of citizens using ration cards.

An official in the Ministry of Supply told Egypt Today that around 30,000 tons will be soybean oil, while more than 10,000 tons will be sunflower oil.

“We will choose the best offer so as the supplying process can start at the beginning of January to continue until January 15,” the source said.

In July, GASC signed agreements to buy 61,000 tons of cooking oil as part of the government's efforts to meet the needs of strategic commodities.

In late June, President Abdel Fatah al-Sisi announced that the government will increase the subsidies on ration cards from LE 21 to LE 50 ($1.1 - $2.7) per individual, as part of a series of decisions that target boosting the social safety net.

The decision would raise allocations of food subsidies in the fiscal year of 2017/18 budget to LE 85 billion from LE 47 billion in the fiscal year of 2016/2017.