Egypt Government removes encroachments on assets

The first phase of the campaign included 148 eviction rulings

  
Image used for illustrative purpose. Worker walks in front of buildings under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

Image used for illustrative purpose. Worker walks in front of buildings under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020.

REUTERS/Mohamed Abd El Ghany

ArabFinance: Egypt’s Ministry of Public Enterprises Sector, in cooperation with the Ministry of Interior, has completed the first phase of its campaign to remove encroachments on public sector companies’ assets valued at EGP 346.9 million, a statement by the ministry said.

The first phase of the campaign included 148 eviction rulings for Lapas stores, the Sphinx Hotel in central Cairo, and Heliopolis Hotel in Heliopolis, as well as 32 stores were delivered to the Torgoman garage of the Egyptian Company for Integrated Projects (Torgman Group).

Additionally, the Prime Minister formed a committee from the Ministries of Finance, Local Development, Interior, And Public Enterprises Sector, and the Administrative Control Authority to study the feasibility of removing encroachments on state-owned real estate and lands.

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