Egyptian Prime Minister Mostafa Madbouly chaired a meeting of the government offerings committee on Tuesday evening to review the implementation of the state’s privatisation programme.
At the start of the meeting, the prime minister noted that it was part of a series of regular meetings to follow up on the programme’s progress. He affirmed the government’s commitment to taking the necessary steps to enhance the private sector’s role in various economic activities and increase its participation in numerous sectors, in line with the State Ownership Policy Document.
Government spokesman Mohamed El-Homsany stated that the meeting addressed the implementation status of the offerings programme. He added that discussions included a review of the various timelines for the offering of a number of targeted companies in the next phase.
In this context, the spokesman noted that the meeting reviewed the executive measures and steps taken by the relevant ministries and authorities to offer the targeted companies, alongside the efforts being made to prepare those firms in various sectors for public offering.
The meeting also reviewed the latest developments regarding the cooperation between the Sovereign Fund of Egypt for Investment and Development, the Armed Forces’ National Service Projects Organization, and a group of specialised local and international advisory firms to restructure and manage the offering of a number of companies owned by the Armed Forces.
The meeting was attended by Hassan Abdalla, Governor of the Central Bank of Egypt; Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation; Mahmoud Esmat, Minister of Electricity and Renewable Energy; Mohamed Shimy, Minister of Public Business Sector; Hassan El-Khatib, Minister of Investment and Foreign Trade; and Karim Badawy, Minister of Petroleum and Mineral Resources. Yasser Sobhy, Deputy Minister of Finance for Fiscal Policies; Ramy Aboul Naga, Deputy Governor of the Central Bank; and officials from relevant ministries and the central bank also attended.
