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Restructuring unprofitable public enterprises
The Egyptian Gazette Published in The Egyptian Gazette on 17 - 09 - 2018

CAIRO, Sept 17, 2018 (MENA) - Minister of Public Enterprise Sector Hisham Tawfiq said the portfolio of his ministry has 121 companies including eight holding ones.
In a press conference on Monday, the minister said 73 companies achieved profits estimated at LE15 billion while 48 companies working in the fields of metallurgy, textiles, chemicals and pharmaceuticals suffered losses estimated at LE7.5 billion.
Minister Tawfiq pointed out that his ministry will focus on plans of restructuring the ailing companies to make them profitable.
He stressed the importance of backing the Cotton & Textile Industries Holding Co. to bring back the glory of the textile industry to Egypt, pointing out that an agreement was reached with the Ministry of Agriculture on producing short-staple cotton for the first time alongside the famed long-staple cotton to resuscitate the national textile industry.

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