"The state will not back down from implementing this programme; on the contrary, we will announce larger numbers of companies for offering through this programme," said Madbouly during a press conference after touring several industrial projects in the 10 Ramadan and New Obour cities.

Madbouly referred to the two military-affiliated companies, "Wataniya" and "Safi," which were announced for offering during the past period.

Currently, more than 10 other military-affiliated companies are being prepared for offering through the programme, Madbouly said without disclosing the names of the companies.

The act of disclosing the names of companies being negotiated for inclusion in the offering programme is deemed inappropriate, the premier said.

He emphasized the importance of maintaining confidentiality during the negotiation process and conducting it with the highest level of professionalism. This approach, Madbouly says, aims to optimise the returns gained from offering these companies, which are considered assets of the Egyptian state.

Earlier this month, investors submitted proposals to acquire stakes in the National Company for Producing and Bottling Water (Safi) and Wataniya Petroleum Company, according to the CEO of The Sovereign Fund of Egypt, Ayman Soliman.

Madbouly stated that the offering programme is being carried out through an integrated plan which includes specific measures and details, and it is expected to be completed by the end of June. The size of the offering plan is up to $2 billion (EGP 61,197,620,000.00).

Madbouly further explained that some companies have finalised negotiations, while others are still negotiating.

The Prime Minister confirmed the vigorous implementation of the offering programme, emphasizing Egypt's commitment to closing a $17 billion (EGP 520,179,770,000.00) financing gap under the IMF's Extended Fund Facility loan deal. This commitment involves securing loans from international financial institutions and selling stakes in state-owned assets or offering them to strategic investors.