The House of Representatives’ Industry Committee has resumed discussions on the automotive directive after announcing earlier this month it decided to postpone its review of the directive “pending further studies,” according to Al Shorouk. The directive — which would give incentives to local assemblers to go further up the value chain into manufacturing — has been very touch and go in parliament, which is being lobbied hard by car importers and assembly manufacturers to reject it. Automotive importers present at yesterday’s discussion stressed the importance of thoroughly reviewing the market’s needs before setting any numbers or targets in the directive. Strangely enough, the CBE has taken an interest in the automotive directive and is advancing an alternate measure and has formed a committee led by the policy’s detractors and is conducting its own study. From the looks of it, importers and assemblers are tussling over influence among decision makers.

We’re seeing other activity on the legislative front as the House Legislative Committee will be discussing the Industry Permits Act, which is expected to pass it “soon,” Federation of Egyptian Industries head Mohamed El Sewedy said, Al Borsa reports. Meanwhile, the Egyptian Council of State (Maglis El Dawla) has received the Bankruptcy Act and is set to begin its review of the legislation after completing its review of the Investment Act, government sources tell Al Borsa. According to the International Monetary Fund’s staff report on Egypt’s Extended Facility Fund, the Industry Permits Act is expected to be ready by March and the Bankruptcy Act by June.