Finance Ministry endorses EGP 4.5bln urgent allocations in April
The Egyptian Ministry of Finance approved a number of urgent allocations amounting to 4.5 billion Egyptian pounds in April 2019 for the National Railway Authority of Egypt and the Holding Company for Drinking Water and Wastewater to support the efforts of these bodies to manage the needs of citizens.
Allocations included 4 billion pounds for the General Authority for Supply Commodities for the monthly financial support for subsidy card items, bread points and differences in the cost of manufacturing bread in April.
The ministry added that 98.5 million pounds were allocated as a contribution from the treasury in the capital of the Holding Company for Cotton, Spinning and Weaving to provide the necessary liquidity for the disbursement of employees’ entitlements in April 2019.
It also allocated 391.6 million pounds for the National Media Authority to meet its financial obligations towards its employees, while an amount of 2.57 million pounds has been allocated to the Supreme Council of Culture for employees’ salaries at the Sound and Light Company.
The Egyptian National Railways (ENR) obtained 56.6 million pounds from the allocations to finance subsidies to student subscriptions in April, while 17.36 million pounds went for the Egyptian Company for Metro Management and Operation to finance student subscriptions.
Moreover, 62.5 million pounds were allocated for the Holding Company for Water and Wastewater (HCWW) in April for subsidizing water, and 61 million pounds went to the Health Insurance Organization to support students, women breadwinners, and pre-school children.
