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Parliamentary: The Government's strategy for preventing bleeding losses for companies is unprecedented



MP Mohammad Abdullah Zaynudin, deputy chairman of the Committee on Transport and Communications of the House of Representatives and Secretary General of the country's future party in the lake, said the government's blueprint and strategy, reviewed by Minister of Business Sector Hisham Tafik, to the Committee on Industry of the House of Representatives , dealing with companies in the sector and how to restructure loss-making, increase corporate profits, asset utilization, historical and non-premium, especially as their application and success is paralyzing businesses businesses from the acacia of collapse and corruption.

In a statement on Tuesday, Zine El Dinh commended the Committee of Industry of the Democratic Chamber of Eng. Mohamed Farah Amer and all of his members from the majority, the opposition and the independents for their support and full support for the policies of Hisham Tafik, the Minister of Business Sectors in reforming and resolving the problems of companies from the business sector during the meeting. The most important thing the committee had with the minister last week.

He stressed the utmost importance of Minister's statements, in which he confirmed to the Committee that the number of employees in 121 enterprises in the public sector was 215 thousand workers, including 73 companies making profits and 48 companies making losses, and a profit of 4.8 billion leva to nearly £ 15bn, while the loss rose from £ 4.7bn to £ 7.5bn according to the fiscal year 2016/2017.

He went on: There are 48 companies the business sector lost its entire capital, but arrived, lost all of the injected assets totaling $ 38 billion, with a total loss of 60 billion pounds.

He pointed out that this issue from the Minister of Public Business Sector demands a break from the government and parliament represented by the Industry Committee and its chairman, Eng. Mohamed Faraj Amer, who is one of the most successful leaders in the professional industry in Egypt to implement this strategy on the ground. A clear vision and strategy to turn losing companies into profitable, and the commission supports them to prevent the bleeding of corporate losses, restructuring and exploiting their assets the best exploitation.

Zinedinein announced his support for the work of the committee from the minister for the business sector to attend the second committee session to complete the discussion on the government's strategy for sector companies. He praised the statements of Mohamed Farage Amer, in which he announced that the commission would prepare a comprehensive report on the files of companies in the public sector. From the President of the House of Representatives, Mr. Ali Abdel Aal, discussed at the plenary session of parliament, and invited the Prime Minister, Mr. Ministers of the "business sector, finance, investment, industry and workforce" for parliamentary discussions respond to all questions and questions of lawmakers, noting that this report will be one of the most important documents of the House of Representatives, since it will help the government to abolish public sector companies from collapse

He explained that the losing companies released by the Minister of Business sector before the Committee on Industry of Parliament is not the responsibility of the current government, and that is the responsibility of governments and former regimes that kept silent before 2011 and for more than 40 years the losses of these companies and the non-interference of the reforms, the incumbent Parliament is headed by the President of the House of Representatives, who is not against the government or the mistakes. But we want reform and transform all losing companies into a winner, in order to increase the production and export of Egyptian in different countries.

He noted that the incumbent parliament is a true supporter of President Abdel Fatah al-Sisi's reforms in the health and education dossier and all other dossiers and strongly supports government and policy reforms of Minister of Business Hisham Tawfik in order to transforms all companies from losers in the public sector to profitable companies, Expresses complete confidence in the ability of the Government and the Parliament to achieve this noble goal.


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