Egypt: Ministerial Economic Commission Meeting

Engineer Sherif Ismail, President of the Council of Ministers, during the meeting of the Economic Ministerial Committee in the presence of the governor of the Central Bank, and ministers of planning, housing, logistics, electricity, transport, finance, public enterprise sector, tourism for follow-up to the executive position service projects in governorates to work on achieving the delivery rates high to finish them according to the time limits.

The head of the Council of Ministers, stated that the government is keen through the implementation of its program to take the actions and policies to ensure the improvement of the quality of services provided to citizens, indicating that most of the service projects and development that had been completed, which is currently being implemented and reflects directly in the interest of the low-income brackets, and that the government strongly support the citizen of limited income.

The President of the Council of Ministers stressed on the need to work on increasing the outlets for basic food products during the next stage, and continue to provide the main goods and increasing the supply through pumping quantities required, which represents the highest priority during this stage, the prime minister also stressed the need to take necessary measures to control markets, to make sure the sale of all products appropriate prices deliverables are required according to the standards of the food safety and public health.

The prime minister also called for the need to review the water and electricity networks to reduce wastage, emphasizing the necessity of coordination between different ministries and to take the necessary measures to rationalize consumption of energy and water resources in the different uses, indicating that it is considered a part of the solution to the economic problem, it also contributes to reduce the burden of the import of petroleum materials to reduce the pressure on foreign exchange.

On the other hand, the meeting reviewed the draft for the rehabilitation and development of Alexandria tram stop, and in this regard the agreement on the preparation of a feasibility study of the financial and economic project in detail, in preparation for submission to the Ministerial Committee on Economic after two weeks.

The Committee also reviewed the results of the first phase of the study on the establishment of the sovereign fund 'Amlak', which focused on the nature of the fund and investment policy and the legal framework which will be on the basis of the establishment of the Fund in the light of the of successful International experiences, the Committee addressed the completion of the second phase of the study is due to be finished in 8 weeks, in preparation for the start of the operational procedures and to take steps to establish the fund aimed at attracting investment in priority sectors in accordance with the sustainable development strategy Egypt 2030.