Cairo –  The Egyptian Ministry of Finance (MoF) approved urgent financial allocations of EGP 12.5 billion to several state-run bodies during March and April.

Allocations include EGP 8 billion to the General Authority for Supply Commodities (GASC) during the last two months, in addition to EGP 3.1 billion for the purchase of local wheat, according to a statement on Sunday.

The finance ministry also approved an allocation of EGP 173.2 million to the Egyptian Company for Metro Management and Operation to finance subsidised student subscriptions.

In addition, an amount of EGP 300 million has been allocated to the Holding Company for Water and Wastewater (HCWW) and EGP 118 million has been directed to the Health Insurance Organization to support students, women breadwinners, and preschool children.

Egypt’s finance ministry also allocated EGP 440 million to the National Media Authority and EGP 5.2 million to the Supreme Council of Culture to meet their financial obligations towards the employees.

Moreover, a total of EGP 344.4 million has been allocated as a contribution to Cotton & Textile Industries Holding Company in order to provide the necessary liquidity to pay the dues of employees.

Source: Mubasher

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