Egypt gas export contracts to be reviewed: finance minister

Ahram Online, Monday 6 Jun 2011

Radwan tackles controversial export deals and government payments to contractors and suppliers during a meeting with representatives of Egyptian society

Egypt’s finance minister announced that all seven of the country's natural gas export contracts are currently being reviewed.

Gas export contracts, especially to Israel, have been at the center of public attention as the former  regime is accused of exporting gas at subsidised rates.

Samir Radwan made the announcement in a meeting with a number of economists, parties’ representatives and other groups active in society.

He announced that, in order to energise the economy, the government is planning to fulfil a large portion of its delayed payments to contractors and suppliers.

He also revealed a government plan to grant a grace period on its dues with the private sector.

Radwan also stated that three major public projects will be undertaken in the coming period, in partnership with the private sector.

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