Good news contractors, the Contractors’ Compensation Act was signed into law: President Abdel Fattah El Sisi signed the Contractors’ Compensation Act into law yesterday, AMAY reports. The bill’s executive regulations should be ready within a month, will compensate contractors for losses incurred as a result of the EGP float and last year’s fuel price hikes. It also mandates the Housing Ministry to form a committee that would set the rules and regulations on how to calculate and issue the compensations. The Federation of Egyptian Contractors expects the ministry to set up the committee within a few days and begin issuing compensations in three weeks’ time, members tell Al Borsa, noting that the amount will vary from one contractor to the other. Some contractors reportedly want to ask the government to factor in recent hikes in fuel and energy prices when repricing their contracts, as we noted yesterday.