File - The most prominent modifications to the law, approved on Sunday by the Parliament, is the establishment of sole proprietorship companies File - The most prominent modifications to the law, approved on Sunday by the Parliament, is the establishment of sole proprietorship companies

Parliament approves bill enabling private sector to manage railway services

By: MENA
Sun, Mar. 4, 2018
CAIRO - 4 March 2018: The House of Representatives approved during a session on Sunday under Speaker Ali Abdel Aal a bill presented by the government on amending some articles of law 152 of 1980 on establishing the Egyptian Railway Authority (ERA).

The bill allows ERA to enable investors to run, administer and maintain railway services without abiding by law 129 of 1947 on railways and law no 61 of 1958 on giving concessions related to investment in natural resources and public utilities.

It also allows ERA to establish stock exchange companies and trade in their shares while giving the ERA workers the right to buy 10 percent of the companies shares.

The bill imposes a jail term ranging between two to three years on those who encroach on areas along the railways.
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