Faragalla Group gets EGP 300,000

Faragalla Group got EGP 300,000 from Exports Support Fund; bolstering its exports in Q1 of 2012 which exceeded $25 million as per the average of the company’s annual export.

In a statement to “Amwal Al Ghad”, Mohamed Farag Amer, the Group’s Chairman, said the government neglects disbursing the companies’ dues about their exports’ support. This negatively affects on these exports’ volumes, a good example is that we got 3% of our exports in Q1 of 2012, and 10% last year.

Amer called on the government to consider the file of exports support, a lot of the Egyptian exporting  authorities, in their profits, basically depend on this support and may resort to halt exporting and sell in the local market, in case of not getting this support.

It was mentioned that Farragala Group called on the government last week to disburse EGP 27 million; the rest of its dues about its exports’ support which reached EGP 30 million.