Egypt: Ministers of “Planning, Economic Development, and International Cooperation” and “Finance” Convene Technical Secretariat Meeting of the Supreme Committee for Economic Entities

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H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, and Mr. Ahmed Kouchouk, Minister of Finance, held a virtual meeting regarding the work of the Technical Secretariat of the Supreme Committee for Economic Bodies. The meeting was attended by Mr. Mohamed Abazid, Legal Advisor to the Minister, Dr. Hussein Essa, Head of the Technical Secretariat of the Supreme Committee for Economic Entities and former Chairman of the Planning and Budget Committee in Parliament, and Mrs. Sherine El-Sharqawi, Assistant Minister of Finance.

The meeting addressed the role of the Technical Secretariat of the Supreme Committee for Economic entities in coordinating with the relevant ministers overseeing the economic bodies to develop a comprehensive vision. This vision includes a study of the 59 economic bodies in line with the state’s objectives to apply the highest standards of performance and governance within these entities.

The meeting also discussed the mechanisms for the committee's work to achieve its assigned tasks, in implementation of directives from Prime Minister Dr. Mostafa Madbouly. The Ministry of Planning, Economic Development, and International Cooperation will provide all necessary logistical support, data, and information in coordination with the Ministry of Finance.

In this regard, H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, emphasized the Ministry's commitment to ongoing coordination and monitoring with the Technical Secretariat to provide all necessary information and data. This ensures precise and well-governed steps in evaluating the status of economic entities, aligning with Egypt’s goal of governing these entities and enhancing their operational efficiency and effectiveness within the state’s plan, thereby increasing their contribution to the national economy.

H.E. Dr. Al-Mashat further clarified that strengthening the role of economic entities in the national economy and optimizing their resources positively impacts the state's economic and financial performance.

On his part, Mr. Ahmed Kouchouk, Minister of Finance, affirmed the Ministry's commitment to active participation in the work of the technical committee by providing all historical data and details of guarantees issued to these entities. This will aid in developing comprehensive executive plans aimed at enhancing the efficiency and profitability of the economic entities.

The Minister of Finance highlighted the importance of creating clear and detailed executive plans to address the most significant financial risks facing some economic bodies currently. This will ensure increased surpluses from these bodies and a higher transfer of surpluses to the public treasury, thus contributing to maximizing non-tax revenues for the budget, in line with the recommendations of the House of Representatives, the current government, the National Dialogue Committee, and most international institutions.

Distributed by APO Group on behalf of Ministry of Planning and Economic Development - Egypt.