Workers from Shebin for Spinning and Al-Nasr Company for Steam Boilers and Pressure Vessels gathered in front of Egypt's parliament building to demand the swift return of the two companies to the public sector.

 

The two companies were among the three privatised firms which Egypt's administrative court returned to state ownership in September. The court explained that a review of privatisation procedures had raised questions over corruption, conflict of interests and a lack of transparency during the Mubarak era.

 

The court's decision, however, has not yet been implemented, with Egypt's interim government appealing the court orders.

 

The ambiguous situation has left employees at the affected firms in limbo, leading many to take to the streets and demand a quick resolution.

 

"After the renationalisation decision the company stopped paying our salaries and said the government should pay us instead," said Gamal Bebars, a worker at Al-Nasr Company for Steam Boilers and Pressure Vessels, one of the protesters in Thursday's crowd.

 

Egypt's finance minister Hazem El-Beblawi said on Tuesday that the government's legal appeal against returning the companies to the state shows the country's investment climate is being safeguarded.

 

The recent wave of renationalisations was led to fears in Egypt's business community that wider government takeovers may occur in future.

 

In response, El-Beblawi has taken several opportunities to reassure investors of Egypt's commitment to the market economy.

 

Egyptian public sector companies are notorious for their swollen payrolls and inefficiency, factors reflected in financial results  burdeded with debt and poor returns on investment.

 

Workers, however, believe that privatisation has actually brought about a deterioration in company performances.

 

Protester Gamal Bebars feels his job is at risk with the company under private ownership.

 

"The company had 1,400 workers before it was privatised, now it just employs just 139 workers. And we don’t even know what will happen to us," he told Ahram Online.

 

This view is shared by workers at other privatised firms.

 

"Under the public sector there was stability. After privatisation, they started selling the equipment and closing factories, displacing workers," Ragab El-Shimy, a shopfloor worker with Shebin for Spinning told Ahram Online earlier this month.

 

Shebin for Spinning was founded in 1959 and sold in 2007 to an Indian investor. The company's privatisation led to a chain of labour protests claiming unjust treatment by the new management.