Egypt to issue smart cards

Egypt will begin using smart cards in the next few weeks to distribute gasoline and diesel, Oil Minister Sherif Haddara said on Thursday, in a step towards meeting IMF terms for a loan. The first smart cards will go to fuel stations and then the program will widen to include all car owners. The government is turning to smart cards to reduce the amount of money it spends on subsidized energy products, which eat up a fifth of all state spending.