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Elham AbolFateh

Business

Government denies privatization public sector companies: Minister

Sunday 15/April/2018 - 07:42 PM
Sada El Balad
Ahmed Moamar
Dr Khalid Badawy، Minister of Public Sector said that government has no intention to privatize more companies during the next period.
However the minister added that government may sell idle assets or unexploited parcels.
He went on to say to members of the Economic Committee at the House of Representatives (HoR) Chaired by Amr Ghallab، that his ministry works out plans to reconstruct the non-profitable public companies.
He asked HoR to provide more funding to reconstruct the public companies.
Badawy affirms that gins across the country may be renewed by revenue produced through selling a parcel.
He revealed that government addressed international companies to start partnership in some industries like ones feeding auto manufacturing.
Bu he claimed that Egypt couldn’t export a 100% local-made car within the short range.

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