48 public business sector companies lose $3.4 bln in 2018 – minister

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48 Egyptian public business sector companies incurred losses totalling around 61 billion Egyptian pounds ($3.4 billion) during 2018, announced its minister Hisham Tawfik on Tuesday.

“The (public business sector) ministry had outlined a plan to restructure its companies and save them from losses they were exposed to,” Tawfik further said.

There are 107 public-sector companies operating under law no. 203, while other 119 companies are affiliated to Public Business Sector Ministry, the Egyptian minister added.