New measures to maximise assets of administrative authorities: Finance Minister

Daily News Egypt
2 Min Read

Minister of Finance Mohamed Maait said on Sunday that new measures have been taken by the General Authority for Government Services. Their aim is to maximize the use of buildings and lands owned and rented in the administrative authorities.

The step comes in implementation of the presidential directives to properly manage state assets and ensure optimum utilization of public resources.

He added that a central electronic database will be established at the General Authority for Government Services, which includes buildings and lands owned, leased and disposed of during the last five years in the administrative authorities to strengthen governance and ensure optimal utilization of state resources. This comes within the framework of the state’s vision and its policies to achieve economic and administrative reform, with the required planning of resources and good asset management.

Maged Younis, Head of the General Authority for Governmental Services, said that administrative authorities were directed to prepare an electronic database for all the real estate owned by them, what was disposed of, the method of disposal, the value and other relevant data. The authority is regularly informed of all the evidence from these authorities to be proven in the central database of the General Authority for Government Services.

The authority demanded the authorities concerned with the provisions of the law regulating contracts concluded by public authorities to complete the required data. This includes an inventory of buildings owned and rented, as well as owned and leased lands during the past five years. Any updates shall be announced as soon as they occur, in a manner consistent with efforts to achieve financial discipline.

He pointed out that the number of auctions organized by the authority for the Customs Authority and other government agencies and authorities increased throughout the last fiscal year to 186, estimated at EGP 1.2bn, compared to 145 auctions in FY 2019/20, with proceeds amounting to EGP 1.184bn, compared to about EGP 1.1bn in FY 2018/19.

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