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PM presses for quick development of public business firms
The Egyptian Gazette Published in The Egyptian Gazette on 02 - 09 - 2018

CAIRO, Sept 2 , 2018 (MENA) - Prime Minister Moustafa Madbouli has stressed the need to quickly implement a plan to upgrade corporations affiliated with the public business sector.
The plan aims to better run those corporations in a way that would bring in higher revenues and serve the national economy.
In a meeting with Madbouli earlier Sunday, Minister of the Public Business Sector Hisham Tawfiq reviewed a report on the plan.
He made it clear that eight holding companies are affiliated with the public business sector.
Tawfiq said his Ministry has already contacted those companies and demanded that they outline their own in-house development strategies and pinpoint opportunities and challenges.
He touched upon a sub-plan to handle insolvent companies, noting that it will address problems facing 26 of 48 firms, whose losses amounted to some LE 6.7 billion in 2017.

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