Egypt's Civil Aviation Authority (CAA) and Administrative Control Authority (ACA) will coordinate to inspect the files of companies operating in the petroleum sector, sources revealed on Tuesday. The regulatory agencies started auditing 250 companies to prepare a report on the extent of their economic feasibility, as they hire unnecessary staff costing tens of millions of Egyptian pounds a year in salaries and allowances, in violation of the maximum wage law. President of the Central Auditing Organization Hisham Geneina, said the state body will discuss a number of issues, including the multiplicity of oil companies (250 companies), pointing out that Saudi Arabia, the largest Petroleum exporting country in the world, operated with one sole company "Aramco". Geneina stated in a press release, that some companies' only role was to "appoint the sons of high profile state officials to posts in exploration and extraction companies, costing the country millions of pounds and burdening the state budget without any significant return".
