Cabinet denies reports on privatizing cotton companies

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Fri, 07 Feb 2020 - 12:47 GMT

Cotton - CC via Pixabay/pianweizhuannong

Cotton - CC via Pixabay/pianweizhuannong

CAIRO - 7 February 2020: The cabinet on Friday dismissed reports circulated on social medial about privatizing the cotton companies.

In a statement, the cabinet media center said it contacted the Ministry of Public Business Sector which denied the news.

The ministry said that a comprehensive plan has been launched to upgrade the cotton gins and improve their capacities, adding that the state attaches importance to the quality of cotton crop via adopting the latest technological tools to cope up with the global developments in this industry.

This comes as part of the state's keenness on developing the cotton, spinning and weaving sector and restructuring companies specialized in this sector.

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