Ministerial Committee probes rate interest cut, customs tariffs

Egyptian Prime Minister Atef Ebeid yesterday reviewed program to train youth and graduates on agricultural activities, notably agroindustrial activities and animal-and-fish production.

A cabinet official source said that the meeting decided to begin these programs on November 1 for periods varying between two and four weeks.

A trainee will receive a monthly financial allowance. After completing training he will receive a loan from the Principal Bank for Development and Agricultural Credit (PBDAC) to launch a small agricultural project as part of the state plan to expand small projects.

This program is performed in addition to training programs related to information center in villages and the program under which government jobs are provided.

Youssef Wali, Deputy Premier and Minister of Agriculture and Land Reclamation and the Chairman of the Principal Bank for Development and Agricultural Credit, Youssef Abdel Rahman attended the meeting.

On the other hand, Ebeid decided setting up a committee under Wali to probe a cut of the rate of interest, encouraging banks to give more loans for consumption purposes.

Minister of Economy and Foreign Trade Youssef Boutros Ghali said the current customs tariffs would be reconsidered and agreement was concluded to activate the exportation mechanisms.