In Ukraine, 141 still hospitalized after violent protests    Islamist militants attack African Union base in south Somalia    Merkel says refugee crisis as challenging as reunifying Germany    Unprecedented migrant crisis forces EU to seek answers    Iran nuclear deal now backed by 31 senators    Juventus suffer side effects of dismantling winning team    Liverpool's Lovren upset with individual error in West Ham loss    Healthy workplace tied to fewer obese young workers    Tennis: Sharapova pulls out of US Open due to leg injury    Sinai Cement registers US$4mn net losses in H1    4-Dimensional Plan Announced To Tackle Assiut Oil Leak    Alleged Ansar Beit Al-Maqdis member killed in Cairo    Asian stocks set for worst monthly drop in three years as Fed, China loom    Egypt increases efforts to acquire Security Council seat    Egypt's gas discovery could impact Israeli exports    Egypt parliamentary elections to start 17 October    Eni CEO says open to selling stake in Egypt mega gas find: Report    BREAKING: Egypt parliamentary elections to start 17 October    BREAKING: Italy's Eni makes biggest gas discovery in Egypt and Mediterranean: Petroleum Ministry    President El-Sisi arrives in Singapore    Proverb of the day: He who is on dry land is a great swimmer اللي ع البر عوام    Egypt summons UK ambassador for slamming Al Jazeera trial    Dutch plan tougher asylum policy as migrants flock to Europe    ‘Devastated' Peter Greste urges Sisi to pardon Al-Jazeera trio    Egyptian police arrest death-sentenced former Islamist MP    Free visits to all Egyptian archeological sites given to American child    Egypt's power choices appease public, squeeze industry    Sisi embarks on a historic visit to Singapore    BREAKING: Egyptian court sentences three Al-Jazeera journalists to three years in jail    Rewarded with an Olympics    Republican praise for Al-Sisi    Reaching out for the Russians    Changes in Iran    Political parties in disarray    Policemen back to work    Giant steps    The ‘Bulldozer' runs out of steam    Kibbeh Seneya    Yemen: The hard last mile    CINEMA    MUSIC AND DANCE    The unique project of Gamal Al-Ghitany    For marijuana and the brain, questions remain    Egyptian government cannot halt Semenkha statue sale: Antiquities minister    Proverb of the day: Your son will be as you raise him and your husband will be as you train him ابنك على ما تربيه وجوزك على ما تعوديه    Grand Egyptian Museum to be managed internationally: Antiquities minister    Warner Brothers in talks to make movies in China    10-year prison term for one, five acquitted in a Port Said Stadium massacre retrial    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.




Your friends recommend

Restitution not crippling debt
Published in The Egyptian Gazette on 04 - 09 - 2012

AT a time when the Government is struggling to obtain a $4.8 billion loan from the International Monetary Funds (IMF), voices are being raised opposing this loan, which would increase the burden on the Egyptian economy. Further, they are asking why the Government is not pursuing other ways to raise such funds.
The people are questioning the need to seek this finance from the IMF with its stringent conditions, when the Government could speedily find the same sum by taking the necessary procedures to retrieve the massive funds members of the toppled regime illegally gained and deposited abroad.
Most important are the huge possessions of the Mubaraks, as well as other members of the ousted regime, who are standing trial and even being found guilty of corruption. The State has every right to confiscate the property of those corrupt officials, as well as that of their families.
During the 18-month transitional phase, the investigative authorities uncovered vast corruption in the Mubarak regime and the dissolved National Democratic Party (NDP), revealing their vast illicit gains. This unjustified laxity in retrieving the stolen funds deposited in foreign banks and in uncovering the huge amount of property owned by these people has triggered public anger against the Government, because the citizens have suffered for many years. Things have got even worse since January 2011.
What could one expect from impoverished citizens on reading the report recently presented by Judge Asem el-Gohari, head of the Ill-gotten Gains Agency? It refers to the huge wealth of Safwat el-Sharif, the former NDP Secretary General, which he acquired illegally, amounting to LE29 billion in the form of investments and property in Egypt and Britain.
The least the Egyptians are expecting from Hisham Qandil's Government, president Mohamed Morsi's first is to rapidly restore the looted funds from these corrupt officials and use them to boost the economy, creating some giant development projects with the highest returns for the economy and improving the people's living conditions, instead of seeking more foreign loans.


Clic here to read the story from its source.