The NPA said in a statement that these reports are part of “the constant attempts of media outlets of the terrorist group to spread lies and rumours in order to undermine the political stability and economic growth in Egypt that international organisations have praised and that have been recently crowned by the launch of Egypt’s Future for Agricultural Production.”

On Thursday, the NPA decided in a meeting to begin the process of maximising the utilisation of some assets owned by three state-owned press institutions — Al-Ahram, Dar Al-Tahrir, and Rosal Youssef.

This measure aims to develop the financial resources of these institutions to help meet their urgent financial needs and improve the conditions of their employees, the NPA noted.

The NPA also said that this step goes in line with a plan to take advantage of untapped assets owned by the country’s eight national press institutions — including their lands — by launching investment projects based on feasibility studies on lands they own, such as establishing Akhbar Al-Youm University and expanding the faculties of Ahram Canadian University.

The NPA refuted claims made by these media outlets that its decisions “are part of a scheme [by a sovereign body] to gradually acquire the assets of all state-owned press and media institutions.”

“The National Press Authority stresses the Egyptian state’s steadfast support for the country’s press institutions to continue its educational and enlightening efforts, particularly in light of the frenzied attacks by the terrorist group’s media arms," the statement added.