Tennis: Serena Williams battles back to beat Watson at Wimbledon    IS says it destroyed archaeological pieces from Palmyra    China air force uses drone for first time in Xinjiang quake    Palestinian forces arrest dozens of Hamas men in the West Bank    Turkey reinforces Syria border, Davutoglu says no incursion planned    Zamalek's loss will help Ahly players in coming games, coach believes    30 June: Two years on    Pressing for a cheaper Internet    Terror in the Gulf    Putting Israel on the spot    Capital city doldrums    Bank bailout for factories    Triumphant trio    Drifting the night way    Grab, grunt and lift-off    Baked creamy rice tagine (Roz muammar)    Glowing skin in Ramadan    Sway with the palm    Sinai under control    MUSIC AND DANCE    Did the pioneers go wrong?    AC Milan sign Brazilian striker Luiz Adriano from Shakhtar    Tears of a moderniser    Four people die in hospital fire in Nile Delta    Picture of the day: Mourners carry coffin of officer slain in Sinai    Thousands bid farewell to Sinai attack victims at funerals countrywide    Egypt's president ratifies budget for fiscal year 2015/16    Islamic State looting Syrian, Iraqi sites on industrial scale: UNESCO    UAE Minister of State says Egypt will defeat Terrorists    UN's Ban Ki-moon condemns Deadly Terrorist Attacks in North Sinai    Moody's downgrades Greek bond rating on default risk    Egyptian Pound weakens to 7.63 at Official Auction: CBE    Our Condolences to Egyptian People: Netherlands Embassy    Proverb of the day: He came to take a look, and defeated everyone    US condemns terrorist attacks in Egypt's Sinai, State Deptartment says    United States seeks Extradition of 7 FIFA Officials from Switzerland    Electricity, Interior Ministries Step Up Security Operations    Egypt Money Supply Up 15.9% In May: Central Bank    Sisi Assigns ACA Chief To Solve Investors' Problems    We will 'exterminate' all militants, says Egypt's army spokesman    Italian police arrest family of couple who traveled to Syria    Ben Affleck, Jennifer Garner announce Divorce after 10 years of Marriage    New sports uniforms level the playing field for Muslim girls    How much Greece owes to international creditors    UAE offers Egypt Grant for 10-year Slum Development Project    Sisi announces Free Treatment for Military Personnel with Hepatitis C    Jason Statham to join Fast & Furious 8 !    Alexandria hosts First International squash Tournament for Women    







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.