Public Enterprises Ministry makes great strides in reviewing untapped assets
Assets have helped pay total of EGP 33bn in historical debts
Alyaa Stohy June 14, 2021 Comments Off

gypt’s Minister of Public Enterprise Sector Hisham Tawfik has said that his ministry has made great strides in reviewing the untapped assets owned by companies to maximize the returns achieved from them.
These assets were used to pay historical debts amounting to about EGP 33bn, and financing a number of development projects or participate in them in national and investment projects.
The minister’s remarks came during a meeting, on Monday, with Elena Panova, the United Nations (UN) Resident Coordinator in Egypt.
Tawfik said that the Ministry of Public Enterprise Sector’s reform efforts in its public business sector companies are represented in three main axes: administrative and legislative reform; technical restructuring of companies; and good exploitation of untapped assets.
The minister referred to the amendments to the law regulating the work of public business sector companies issued by Law 185 of 2020. This aimed to create the appropriate legal framework for developing companies, implement governance, and increase levels of disclosure and transparency.
He also emphasised the development of information systems in the affiliated companies through the application of an enterprise resource planning (ERP) programme, in six main elements: sales; purchases; finance; stores; human resources; and production. The application is taking place at 63 affiliated and holding companies.
Topics: Hisham Tawfik Public Enterprises Ministry
Alyaa Stohy
Egypt contributes largely to peacekeeping, peacebuilding across world: Elena Panova
Egypt’s Planning Minister reviews parliamentary report on economic, social development draft plan
Egypt’s Planning Ministry, AUC Venture Lab launch training programme for entrepreneurs
Egypt will be economic gateway to MEA region: Thai Ambassador
Egypt, UN establish roadmap for 2023/2027 Strategic Partnership Framework
Electronic catalogue of Egyptian products to be launched within days

Featured Video
Xi Impression: A man who has led China to create unprecedented achievements
Editorial Pick
Qatar Emir to visit Egypt on Friday
We will not forget role of Egypt in liberation of Angola: Ambassador Nelson Cosme
Crime, racism, manipulation in British Cold War media protocols
UAE President Sheikh Khalifa bin Zayed Al Nahyan dies at 73
Latest News
Egypt ranks second in list of best destinations for snorkelling, diving, seclusion
G7 summit opens amid lower expectations, protests
MSMEDA pumped EGP 40bn to finance 1.6m SMEs over the past eight years
Opinion| After the conclusion of the Russian-Ukrainian War, will a new global accord be an alternative to WWIII?
Opinion| Will Egypt’s gas become a lifeline for Europe?
Opinion| Hate and intolerance pervade the political scene in India
Opinion| Will Egypt be the locomotive of the African economy?
Receive our daily newsletter