A modernization programme covering all state sectors
Egypt, Economics, 11/29/2000

Egypt's President Mubarak will hold a series of meetings in the upcoming few days to follow up national and economic performance. President Mubarak will inspect mega projects for following up the latest achievements.

President Mubarak will also hold a meeting with the NDP secretariat general for following up progress of national action stages in Egypt.

The President will review a modernization programme that will cover all the state sectors.

Official sources told "Al Akhbar" that the programme covers three main axes namely:

-Increasing citizen's income and eliminating unemployment

- Improving the standard of services extended to citizens and interests.

- Developing all dealings at the level of all ministries.

The sources said in the upcoming few days, some distinctive research units in the field of water, agriculture, energy, petroleum will be transferred into independent units in management, financial and technical terms. ' Legislations will also be drafted for establishing specialized companies in the medium and long term financing.

The government will also encourage merger of small banks and develop banking policies.

Meantime, Prime Minister Atef Ebeid has started contacts and studies on activity of economic bodies whose aggregate investments exceed LE 120 billion with the aim of developing them so that their output may conform to the volume of their investments.

In another development Ebeid said the government is committed to repay all debts owed to contractors and suppliers until last June 30. He said these debts are valued at le 8.2 billion.

He said the government is also committed to provide all credits necessary for carrying out investment projects contained in the plan.

He said these projects have a capital of LE 12 billion. Meantime, Minister of State for Planning Dr. Ahmed Al Darsh said the government has managed to provide LE 6.5 billion for repaying entitlements contractors and suppliers.

The two meetings also explored appropriations of the investment plan of the two ministries until next June 30.

AL Darsh said an agreement was also reached on providing LE 3285 million for repaying entitlements of contractors and suppliers and appropriations turned over from the plan of the ministries of Water Resources and Agriculture until the end of next June.

Ebeid today holds an expanded meeting to make an appraisal of the results of the latest elections of the People's Assembly.

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