Economic group probes companies privatization program
Egypt, Economics, 7/24/2004

The ministerial economic group, formed recently by the Egyptian Cabinet, will probe in its coming meeting the government's full concept of the privatization of the state-owned companies and the financial status of the would-be sold companies.

Ministry of Investment is currently drawing up a study on making a change in the way the government deals with some existing companies in the light of the agreement concluded with the Ministry of Industry in terms of the modernization of all companies regardless their status of property.

Minister of Investment Mahmoud Mohieddein will meet soon with Chairmen of holding companies on their viewpoints concerning means of reaching a settlement with banks over these companies' indebtedness and pumping new investments to the production units especially those which provide essential commodities. Some banks and insurance companies will finance these units with due money.

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