Back to the complete issue
Thursday, 10 May 2018

Vice Minister of Finance reassures private sector of a role in new healthcare system

EXCLUSIVE- Vice Minister of Finance reassures private sector of a role in new healthcare system: Vice Minister of Finance Mohamed Maait attempted to reassure private sector healthcare providers and insurance companies that the Universal Healthcare Act guarantees a role for the private sector in the new system under Article 10 of the law. In an interview with Enterprise, Maait encouraged private healthcare providers to join in the new system. He noted, however, that prices for insurance policies would be determined by the new healthcare regulators.

Maait statements comes despite the lack of clarity on the role of the private sector in leaked copies of the executive regulations of the act, which were issued by the Ismail Cabinet on Tuesday. Maait said he had not seen the recent draft of the regulations as these were the purview of the Health Ministry. Past media reports had run statements attributed to Maait claiming that the regs would outline a framework for the private sector.

Maait also confirmed that the new taxes mandated by the act would come into effect in the next fiscal year, which will begin in July. These will include a sin tax on tobacco and fees on issuing licenses. He did not mention the nationwide tax on businesses or the healthcare sector tax which were also mandated by the law.

As for the government covering those unable to pay premiums into the national health insurance scheme, Maait said that actuarial studies indicated that the government will pay for 35% of those who will be insured by the system.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Etisalat Misr (tax ID: 235-071-579), the leading telecoms provider in Egypt; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.