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Monday, 16 March 2020

Tawfik surveys MPs’ opinion on new Public Enterprises Act

LEGISLATION WATCH- Tawfik surveys house representatives’ opinion on new Public Enterprises Act: Public Enterprises Minister Hisham Tawfik met last week with lawmakers in the House of Representatives to survey their opinions on the amendments to the Public Enterprises Act, which were passed by the cabinet last month and will soon enter the House for discussion, Al Mal reported. The 26-article bill would effectively remove state-owned companies from the legislation if they list 25% stake on the EGX and bring them within the scope of the Companies Act, thus giving general assemblies more power to increase governance, oversee company boards and remove them if they deliver bad poor results.

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