20 February 2013

Egypt: President Assigns LE 400 Million for Canal's Governorates From Suez Canal's Revenues

President Mohamed Morsi has decided to refer a draft law to restore the free zone in Port Said to the Shura Council, a presidential statement said Tuesday 19/2/2013.

He also issued a decree to allocate an annual 400,000 pounds of revenues of the Suez Canal to develop the three Canal cities and create jobs for youth, the statement added.

This is part of measures to develop important geographical sectors such as Sinai, Upper Egypt, Metrouh and Nubia, the statement noted.

The Presidency is hoping all national powers would live up to their responsibilities in supporting the comprehensive development system in Canal cities: Suez, Port Said and Ismailia.

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