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Governmental efforts to aid struggling factories

By Mohamed Ayyad The government intensified efforts to address the crisis that halted the operation of 650 factories which resulted from outstanding debts owed to banks with a value of EGP 817 million. Mohamed Eissa, Minister of Industry and Trade, stated that the cabinet agreed to help the stopped factories that have experienced technical, administrative, …


By Mohamed Ayyad

The government intensified efforts to address the crisis that halted the operation of 650 factories which resulted from outstanding debts owed to banks with a value of EGP 817 million.

Mohamed Eissa, Minister of Industry and Trade, stated that the cabinet agreed to help the stopped factories that have experienced technical, administrative, and financial difficulties.

The Minister added that 373 of the 650 stopped factories were experiencing financial difficulties, 69 had technical problems, 48 were stopped because of industrial action, 98 had administrative problems, and 98 were stopped because of security issues.

Eissa presented a report to the Prime Minister that included a detailed report on the various problems that have caused work stoppages at the factories and potentials for their solutions.

Fayza Abul Naga, Minister of and International Cooperation, said that the Minister of Electricity would provide technical assistance to all ministers to combat the problem of energy waste. The step is particularly necessary this year, as Ramadan will take place at the height of the summer.

Osama Saleh, head of the Public Authority for Investment and Free Zones, said that the cabinet adopted the recommendations of a meeting held on June 12th to solve investment disputes between the ministries. He added that solutions for 15 disputes had been approved with 75 more planned for the current period.

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https://www.dailynewsegypt.com/2012/07/13/governmental-efforts-to-aid-struggling-factories/
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