The Cabinet will take a decision on the fate of the planned third annual reduction in electricity subsidies during its meeting at the end of this week. An extended phasing out timeline for electricity subsidies is the most likely scenario, Al Borsa quoted an unnamed government official. The government announced a five-year plan in July 2014, of which two hikes had already been executed; the new plan would extend the deadline seven years to 2026. The likely scenario may also see the three lowest consumer brackets exempted from the price hikes, the official added. (Al Borsa)