Exporters
The initiative, launched by the Cabinet with a value of LE 8 billion, covers files approved by the Export Development Fund until the end of September last year for exports until the end of June 2023.
A new batch is also about to get its dues on April 28, 2022, he added.
The center said in a Saturday statement it contacted the Supply and Internal Trade Ministry which dismissed the news as baseless.
Since the beginning of the implementation of the initiatives to return the “arrears” of the dues of the exporting companies in October 2019 so far, the exporting companies have been supported with LE 28 billion; It is a support that was not previously allocated to the export sector, reflecting the state's keenness to stimulate exports.
About 14,000 pesticide appliers had been trained, a matter which allows exporting the Egyptian products without problems, Qersh mentioned.
Maait clarified that the last initiative was "immediate cash payment" with a 15 percent discount.
Sisi directed to settle the problem of overdue payments for exporters before the end of year, stressing that the government seeks to increase investments and exports.
Madbouli started by referring to earlier meetings held last year to review various aspects of a program to refund export burden as well as the details of a new program to boost Egyptian exports.
The minister added that the state is committed to returning the late export burdens of exporters since 2012, and the government has made tangible progress in this regard, with fruitful cooperation between the ministries of finance, trade and industry.
Prime Minister Moustafa Madbouli ordered on Wednesday the disbursement of ten percent of the full value of arrears to exporters.
The estimated value of government debts that should be settled with exporters is LE 2 billion.
OPEC and other oil exporting producers are expected to agree on a mechanism to monitor their crude production before the end of the year, Kuwaiti Oil Minister Bakhit al-Rashidi said on Wednesday.
China has for decades given tax rebates to exporters selling value-added steel, allowing them to undercut competitors.
