No intention to impose administrative restrictions on importation
Egypt, Politics, 11/28/2001

At its meeting yesterday under Egyptian Prime Minister Ebeid, the cabinet reviewed the assignments given by Mubarak to the government at the last meeting held chairmanship at the Presidential Palace.

Ebeid distributed the 20 assignments to the ministers, calling on them to draw up timetables for implementation, to chalk out financial programmes they will abide by along with the strategies of each ministry that will be discussed by the President with the minister concerned as of early next January.

Ebeid underlined the freedom of any economic sector to import, saying no administrative restrictions of any sort will be imposed on importation.

The cabinet decided to assign the economic group and the governor of the Central Bank of Egypt (CBE) with drawing up the maps enough for achieving monetary stability and increasing foreign exchange resources.

A decision was taken on assigning the finance minister and the cbe governor with drawing up a work paper for reactivating the market.

The Ministers of Finance and Planning were also assigned to draw up a comprehensive study on prospects for achieving additional resources for the budget from national a international establishments.

Minister of Information Safwat AL Sherif said the assignments included one to the minister of insurances and social affairs to draw up insurance legislations to overcome the problems of insufficient resources and providing additional resources for social services.

Under those assignments, the Minister of Public Business sector has been assigned with drawing up a program for rehabilitating companies and privatizing companies wholly or partially, the minister of environment has been assigned with carrying projects for disposing of wastes.

The Minister of housing has been assigned with a project for determining urban spaces. He has been also assigned with carrying out mortgage law and solving the problems faced by business community through the formation of work groups from the minister and the cbe governor to tackle the problems of faltering and drawing up a clear-cut visualization of the relationship between business community with government and non governmental.

The cabinet also discussed a number of working papers on development rates and ways of reactivating the market where it has agreed on settling sums owed by the government for the works accomplished until last June 30.

Meantime, Ebeid said a full freedom has been provided for importing the needs of all sectors in the light of the meetings held with the federations representing public business sector private business sector, chambers of commerce and Banks.

All have expressed their agreement on the proposed repayment system.

During the meeting, Ebeid underlined the need for dispelling any doubts regarding any potential money laundering and providing full freedom for depositors and owners of assets, exporters and the companies getting their needs from abroad.

Ebeid said there is no plan for imposing any administrative restrictions on importation.

Ebeid said sales tax would not be applied retroactively adding that the cbe will be affiliated to the President of the republic.

Previous Stories:
  Egypt committed to work for peace achievement   (11/27/2001)
  Mubarak receives message from Annan   (11/27/2001)
  Cabinet discusses Mubarak's directives   (11/27/2001)

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