Exchange market stable, no intention to float pound

Egyptian Prime Minister Atef Ebeid said Sunday that the state provided 150,000 job opportunities this year for university youth of all specializations and ages who graduated since 1991.

Ebeid made the statement when he Sunday visited the computer centre in Alexandria which is affiliated to the cabinet information and decision-support centre which receives and processes job applications.

Alexandria governor Abdel Salam Mahgoub said that 78,550 application forms were received up to Saturday.

President Hosni Mubarak daily follows the situation and stresses that there should be complete transparency in nominating young people for jobs according to the announced rules.

Ebeid said that computers will be manufactured in Egypt within one year at cost one-third the present cost.

Ebeid said that those to be employed in the government will fill vacancies in the sectors of education and health.

In reply to a question on the exchange rate, Ebeid said that the exchange market is now stable.

"There is no intention to float the Egyptian pound," he said.