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Wednesday, 21 August 2019

Egypt's finance ministry to inventory untapped state assets

MENA , Saturday 20 Jul 2019
File Photo: Egypt's finance ministry (Al-Ahram)
Views: 1009
Views: 1009

Egypt's finance ministry said Friday a plan was developed to protect public funds, maximize state revenues and raise the efficiency of public spending.

In a statement, the ministry said its representatives to the administrative apparatus, local administration units, public service and economic bodies and independent central agencies are tasked with taking the necessary measures to inventory untapped state assets.

Also, the state-owned assets overlooking the Nile will be inventoried to identify their rental values and payable arrears, the statement said.

Contracts between state bodies and tenants would be adjusted according to the fresh market value, it added.

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