Egypt privatization revenues hit LE 5.6 billion
Egypt, Economics, 8/18/2005

Egypt's Minister of Investment Mahmoud Mohi Eddein said that revenues of sales of companies that have been privatized so far hit LE 5.6 billion pounds during the fiscal year 2004/2005.

At a press conference held on Tuesday the Minister said that Prime Minster Ahmed Nazif has decided to allocate about 75% of the total revenues of the sold companies for the restructuring of the failing companies.

The volume of direct investment in non-petroleum sectors by the end of the FY 2004-2005 increased to one billion dollars.

The minister pointed out that Cairo and Alexandria Stock Exchanges daily dealing witnessed a leap of trade in bonds, shares and market capitalization.

The ministry is also working to enhance the activities of public insurance companies.

Previous Stories:
  Sharaf: No privatization of Egyptian ports   (8/4/2005)
  Bank of Alexandria to be privatized; government growth rate up to 6 per cent, Nazif says   (4/9/2005)
  Mubarak reviews with economic group privatization plan   (9/27/2004)
  New incentives to activate privatization program   (8/21/2004)
  New privatization program early September   (8/11/2004)
  Economic group probes companies privatization program   (7/24/2004)
  Government to privatize 66 companies in 2004   (5/18/2004)
  NDP : Privatization step to modernizing banking sector   (4/28/2004)
  Oil sector, restructuring not privatization   (11/28/2002)
  Egypt committed to privatization   (11/1/2002)

Please add a link on your webiste pointing to ArabicNews.com and bookmark ArabicNews.com & subscribe to our daily email news bulletin.

Search