The Ministry of Public Enterprises Sector has eliminated encroachments on assets owned by associated enterprises valued at EGP 4.5 billion.
According to Mahmoud Esmat, Minister of the Public Enterprises Sector, the committee in charge of inventorying, registering, and retrieving public assets is continuing to operate as planned. That strategy was approved in collaboration with the many authorities involved, and it is being executed in phases based on the kind and extent of the violation.
Esmat stated that there is ongoing monitoring of the situation of the violations, as well as a list of unexploited assets, as well as determining the procedures to be implemented to maximize the utilization of these assets while achieving the greatest possible economic and investment return.
Esmat explained that the ministry has an accurate inventory of all assets owned by subsidiaries. It is working to develop these assets, whether they are productive or real estate, and provide many investment opportunities for partnership with the private sector in light of the state ownership policy document.
He added that some untapped assets have been used to finance development projects, or pay off historical debts owed by companies to government agencies. He also noted that there is coordination and cooperation between all concerned authorities to follow up on removing all infringements in all governorates, enforce the law, and overcome obstacles that hinder the process.
