Egypt's Ministry of Antiquities said on Wednesday that the Supreme Council of Antiquities has rejected a proposal that suggested the usufruct of archaeological sites for three to five years to international companies through a public auction.

All members of the council that is headed by Antiquities Minister Mohamed Ibrahim rejected benefiting from archaeological sites such as the Pyramids, Sphinx and other key temples.

According to a Facebook statement by the ministry, a citizen had come forward with the proposal to the Finance Ministry who referred it to the Ministry of Antiquities who studied then rejected it by all means.

The council insisted that all antiquities belong to the state and are part of public funds and must not be exploited through usufruct or otherwise.