Egypt : 20 000 jobs to be saved through renationalization
16 décembre 2011 // 0 CommentairesThe Egyptian Interim Prime Minister, Kamal El-Ganzouri, is considering plans to renationalize six land reclamation companies which were privatized in 1995. They will be controlled by the Minister of Agriculture and Land Reclamation via a public sector holding company. According to the Egyptian Minister of Agriculture and Land Reclamation, Reda Ismail, this decision is a way to settle accumulateddebts and will help to save some 20 000 jobs.
In addition, young graduates will benefit more than 500,000 feddans of reclamation lands.
The Minister indicated that this measure will not increase the financial burden on the state and the loans will be provided from either the National Investment Bank and the Agricultural Development Bank at lower interest rates.
The Minister indicated that this measure will not increase the financial burden on the state and the loans will be provided from either the National Investment Bank and the Agricultural Development Bank at lower interest rates.
Source : Ahram.org.eg, 14.12.2011
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