Privatization brings in another EP14 billion
The Egyptian Minister of public sector businesses, Mukhtar Khattab, recently stated that 184 public factories and companies were sold within the framework of the local privatization scheme, according to Al-Gumhuria.
The value of these factories totaled to 14 billion Egyptian pounds ($3.28 billion). Of these revenues, the Egyptian state treasury received seven billion EP, the lending banks four billion EP, the retired employees four billion EP and EP 500 million went to investments in thwe restructuring of the public sector’s companies. — (Mena Report)
© 2001 Mena Report (www.menareport.com)