Cabinet discusses Mubarak's directives

The Egyptian Minister Atef Ebeid will meet Tuesday to discuss President Hosni Mubarak's directives to the government, which include measures to confront the international crisis and its impact on tourism, transport, insurance and the capital market without prejudice to the low-income categories or imposition of any fresh taxes or price increases or lay-offs.

The measures also include trimming expenditure in foreign currency in governorates by 25-50% and reducing invisible expenses like travelling allowances and government expenditure.

The cabinet discusses a follow-up report on facilities to set up investment ventures in the industrial and free zones, particularly those in Upper Egyptian governorates.

Minister of Local Development Mustafa Abdel-Qader said Ebeid approved earmarking 476 feddans at the 12th kilo on the Qoft-AlQuseir highway for an investment project there.

Meanwhile, the Economic Group held Monday morning a meeting under Ebeid which dealt with evaluation of the global economic situation and the procedures to maintain flexibility of exchange rate and rationalize expenditure.