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Egypt's president urges implementation of public sector reform plan

Sunday 18-06-2017 - 04:37 PM
Egypt's president
Cairo - President Abdel Fattah El-Sisi asserted on Saturday the importance of maintaining the implementation of a plan to reform the public business sector companies to effectively contribute to promoting the national economy.
The president, who was speaking during a meeting with Prime Minister Sherif Ismail and Public Business Sector Minister Ashraf Sharqawy ordered to go ahead with efforts meant to restructure losing firms to help them achieve profits by making best use of their assets and providing them with modern technologies.
Sisi also ordered an integrated program to be drawn up to develop and increase areas cultivated with Egyptian high quality cotton and to renovate and expand Egyptalum company in Nagaa Hammadi in Upper Egypt and Egyptian Iron and Steel company in Helwan.
During the meeting, Sharqawy reviewed the performance of the public sector companies in the first half the 2016-2017 fiscal year, said presidential spokesman Alaa Youssef.
The minister said that the eight holding companies of the sector and their 121 affiliates achieved net profits before taxes during the period from June of 2016 to April of 2017 of around five billion pounds. 

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