In his comment about the new prices, Eng. Fahmy declared that energy subsidy during this year has recorded 43 billion Egyptian pounds, while recording 176 billion Egyptian pounds since the beginning of this century.In his statement before the energy and industrial committee in Shura council, Eng Fahmy added that the new prices have been accepted by local factories. He referred that the increase of energy prices will be implemented gradually so that the price of cubic meter of gas will be offered to factories staring with 1.71 US dollars in 2007/2008, then rises to 2.18 US dollars in 2008/2009, and later rises to 2.65 US dollars in 2009/2010. It should be noted the current gas price for each cubic meter is 1 US dollar Source: Al Akhbar