home Latest News Finance ministry allocates EGP 3.9bn for supply commodities, railways, water holding, and press authority – Daily … – Daily News Egypt

Finance ministry allocates EGP 3.9bn for supply commodities, railways, water holding, and press authority – Daily … – Daily News Egypt

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EGP 1.1bn allocated for the purchase of local wheat from farmers, EGP 49m for health insurance, working women, students, and children under school age

Minister of Finance, Amr Al-Garhi, approved a number of urgent allocations of EGP 3.9bn in May 2017 to support supply commodities, the Egyptian National Railways, and the Holding Company for Water and Wastewater to meet the needs of citizens.

The allocations included EGP 2.2bn directed for the General Authority for Supply Commodities (GASC) as the monthly financial support for supply card including the bread subsidy in May 2017. In addition, EGP 1.7m was allocated for the North Sinai Governorate to support the cleaning system in May 2017. The ministry also offered $64.3m to import 395,000 tons of wheat.

The allocations included EGP 1.1bn to finance the purchase of local wheat from farmers in the 2017 season.

In addition, the ministry offered EGP 220m to the Egyptian Radio and Television Union (ERTU) to pay the salaries of its employees in May 2017. The allocations also include EGP 98.5m as contributions from the treasury in the capital for the Holding Company for Spinning and Weaving to provide liquidity required for the payment of workers’ salaries in May 2017.

The allocations include EGP 64.6m for the Egyptian National Railways as a subsidy for non-economic classes and students’ subscriptions in April 2017, as well as EGP 62.5m allocated for the Holding Company for Water and Wastewater for May 2017.

A total of EGP 100m was also allocated for the Industrial Development Authority to support the industrial zones and provide required facilities. In addition, the ministry offered EGP 100m for the National Press Authority to support solving the accumulated problems of the press organizations. Lastly, EGP 49m was allocated to the General Authority for Health Insurance to support working women, students, and children under school age.