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Thursday, 9 February 2017

Parliament complaints of lack of cooperation from government agencies over private funds

Some government bodies have apparently been refusing to disclose the accounts on their private funds — which are not part of the budget and have gained the reputation for being slush funds — to the House of Representatives, parliamentary sources tell Al Borsa. The Finance Ministry was supposed to send the House audit reports for every private fund this week, but have asked for a two week extension to deliver them. The House has been gunning for bringing these funds, which total EGP 52.7 bn, under tighter supervision and monitoring. The House Budget Committee said this fall that it would introduce legislation to place 25% of the present-day value of the private funds under the control of the Finance Ministry.

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