Egypt’s Minister of Finance approves 4.4 bln pounds of urgent settlements

Minister of Finance Amr al-Garhy approved number of urgent settlements worth 4.4 billion Egyptian pounds for January 2018 Commodity Supply Authority, the Railways Authority, the General Authority for Health Insurance, the National Information Authority and the National Press Authority.

The settlements include 3.85 million pounds for the Commodity Supply Authority, besides issuing $ 207.5 million to import 950,000 tons of wheat.

On the other hand, 60.6 million pounds was allocated to the General Authority for Health Insurance in January 2018 and  50 million pounds was for the National Press Authority to pay the salaries of workers.

The settlements included  98.5 million pounds as a contribution for the Holding Company for Cotton, Spinning and Weaving in order to provide liquidity for employees’ salaries. The amount of 62.5 million pounds was also provided to the Holding Company for Water and Wastewater.

The National Railways Authority and subway subscriptions were given a settlements of 73.1 million and 4.9 million pounds , respectively.

The ministry allocated 4.3 million pounds  as employees’ salaries at three irrigation companies and 2.6 million pounds  to the Higher Council for Culture.