Egypt’s public press institutions reach debt-for-service deals

Egypt’s National Press Authority (NPA) signed three debt-for-service deals with the governorates of Cairo, Giza, and Qalyubia to settle outstanding debts owed by three state-owned press institutions, the Egyptian Cabinet announced on Thursday.

The three institutions involved are Al-Ahram, Akhbar El-Youm, and Dar El-Tahrir for Printing and Publishing. The agreements stipulate providing printing, publishing, and advertising services to the governorates in lieu of their debts.

NPA Chairman Abdel-Sadek El-Shorbagy emphasised that the agreements align with the government’s policy of settling debts owed by public entities.

Payment terms include settling 50 per cent of the cost of each service directly, with the remaining 50 per cent deducted from the institutions’ outstanding debts to the governorates.

Attribution: Amwal Al Ghad English

Subediting: M. S. Salama