FILE - Finance Minister FILE - Finance Minister

Finance Ministry offers new financial contributions at LE 4.9 B: MIN

Tue, Nov. 28, 2017
CAIRO – 28 November 2017: The Ministry of Finance has allocated urgent financial contributions with a total value of LE 4.9 billion for the Health Ministry, the General Authority for Supply Commodities (GASC), the Egyptian National Railways, the National Authority for Media and the National Agency for Journalism.

According to an official statement on Tuesday the contributions include LE 3.4 billion for GASC as ration cards subsidies in addition to issuing bank guarantees at $78 million for importing 350,000 tons of wheat.

The urgent funds also contain allocations for the General Authority for Health Insurance worth LE 60 million, which will be used to support to female heads of household, students, and children under school age.

It also includes LE 220 million for the National Authority for Media and LE 175 million for National Agency for Journalism both so the agencies can pay salaries.

Another LE 98.5 million was allocated for the Holding Company for Cotton Spinning and Weaving also for the purpose of paying salaries, in addition to providing LE 123.7 million for the National Railways Authority.

LE 17.5 million more was offered as a support for school and university student's Metro tickets. LE 350 million is included for the Health Ministry to be able to save the basic needs such as dairy and the import of pharmaceutical drugs. As well as allocating LE 100 million for the Egyptian Grand Museum.

Part of the grants went to three companies affiliated to the Holding Company for Irrigation and Drainage for October 2017 use, in addition to allocating LE 62.5 million as subsidy for the Holding Company for Drinking Water and Wastewater.
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