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Sunday, 13 October 2019

El Sisi forms committee to work on Public Enterprises Act amendments

LEGISLATION WATCH- President Abdel Fattah El Sisi has formed a committee to work on amendments to the Public Enterprises Act, the local press reported. The committee will be chaired by the president’s assistant for national and strategic projects, and will feature Public Enterprises Minister Hisham Tawfik, and representatives from the finance and planning ministries, general intelligence, the Administrative Control Authority, and national security.

What do we know about the legislation so far? In April local media quoted Public Enterprises Minister Hisham Tawfik saying that the amendments would remove listed companies in which the government owns a 75% stake from the legislation, and bring them within the scope of the Companies Act. The legislation was first announced by Tawfik over a year ago.

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