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Thursday, 27 June 2019

EGP 5.4 bln to complete 315 stalled projects nationwide: Egypt's Minister of Planning

Mena, Ahram Online, Sunday 16 Sep 2018
Hala El-Saeed
Egypt's Planning Minister Hala El-Saeed (Photo: Al-Ahram)
Views: 2940
Views: 2940

Minister of Planning Hala El-Saeed said on Saturday that the government budget in the fiscal year 2018-2019 allocated EGP 5.4 billion to complete 315 important projects nationwide which have stalled for various reasons.

The minister's comments came during the first meeting of the council of governors, which was chaired by Egypt's Prime Minister Mostafa Madbouly.

El-Saeed said that the funds to complete these stalled projects have been included in the budget, explaining that there have been different financial, technical and legal reasons why they have come to a standstill.

According to Al Mal daily economic newspaper, El-Saeed stressed the importance of providing the necessary financing to complete these projects in order to benefit from the money already invested in them, noting that some projects need only EGP 10 or 15 million to be finished.

The planning minister said that some of the stalled projects are hospitals, calling on the Minister of Health and governors to resolve outstanding issues to complete the hospitals.

According to Al Mal, El-Saeed explained that the Ministry of Housing, Utilities and Urban Development will receive 56% of the investments worth around EGP 3 billion for 235 projects, followed by the Ministry of Youth and Sports receiving EGP 601 million for 21 projects.

By governorate, the minister said that Aswan is marked for 12% of the budget, worth EGP 634 million, to complete 27 projects, followed by Asiut and Port Said, each with 10%.

Meanwhile, Prime Minister Madbouly reviewed during the meeting a number of important issues related to the implementation of other development plans, projects and initiatives.

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