7 October 2012

Egypt: No Plan for Privatization of Public Companies - Investment Minister

The Minister of Investment Osama Saleh said there is no increase in the price of fertilizers and there is no plan for the privatization of the public companies.

He said that the application of the retroactively increase in the price of gas go back to the decision of the Cabinet at the end of last year. The increase does not have any arbitrariness against the companies, he said.

Procedures are now being activated to allow the private sector to set up power plants and sold them to factories consuming the most electricity at world prices and there are 3 requests from investors under studying to establish these stations.

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