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Wednesday, 21 October 2020

EGP 6 bln allocated for Egypt's supply, service authorities in July amid Covid-19 crisis: Finance minister

The allocations also included EGP 500 million for the Ministry of Labour Power, to disburse a third payment to irregular labourers

Doaa A.Moneim , Sunday 16 Aug 2020
Maait
Minister of Finance Mohamed Mait (Photo: Ahram)
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Egypt’s finance ministry disbursed EGP 6 billion in urgent allocations in July to a number of supply and service authorities, in order to boost their capabilities to fulfil their obligations to the domestic market amid the ongoing Covid-19 crisis, Minister of Finance Mohamed Maait said Sunday.
 
The allocations went to General Authority for Supply Commodities (EGP 4.4 billion), Egypt’s National Railways (EGP 335.8 million plus EGP 149.9 million for passenger transportation support), the Cairo Metro (EGP 7.4 million), the National Media Authority (EGP 220 million), the National Journalism Authority (EGP 50 million), and the Cotton and Textile Industries Holding Company (EGP 120 million), according to a statement.
 
The allocations also included EGP 500 million for the Ministry of Manower, to disburse the third payment to irregular labourers, worth EGP 500 monthly for six months, under the provisions of a decree President Abdel-Fattah El-Sisi issued in March aiming at backing irregular workers amid the crisis.
 
The FY2020/2021 budget — starting July and ending in June 2021, and worth EGP 2.2 trillion — is the largest in Egyptian history, partly due to government response to the Covid-19 crisis and its ramifications.
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