Businessman Ayman Al-Gamil praises gov't decisions to support industry

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Tue, 09 Jun 2020 - 01:16 GMT

FILE - Businessman Ayman Al-Gamil

FILE - Businessman Ayman Al-Gamil

CAIRO – 9 June 2020: Businessman Ayman al-Gameel praised the government decisions package taken to support the domestic industry. The last of which was the approval of a set of exemptions and values due from contractual clauses for all industrial clients, related to debts of fine for minimum quantities, the fine for exceeding contractual quantities, and the indebtedness of delay benefits.

Gameel emphasized the importance of those decisions in reducing burdens on the faltering industrial clients, whether they are affiliated with the private sector, the public sector, or the business sector, in light of the increase in their debts resulting from the application of the contractual provisions stipulated in the contracts for the supply of natural gas concluded with them, especially after some factories stopped working due to their inability to compete Accumulation of debts due.

He pointed out that it is not the first time that the government has taken decisions to encourage and support the local industry, especially with regard to energy prices, as the price of gas supplied to customers has already been reduced twice by between 10 percent and 43 percent within 6 months.

“The price of one million thermal units was $7, and was reduced to $5.5, then the second price was reduced, bringing the price of one million thermal units to $4.5, in addition to scheduling debts of the value of gas over periods of up to 5 years,” he clarified.

The businessman expected the economic activity to improve, after the state prepared to gradually return some economic activities during the coming period, after the precautionary measures and controls set by the concerned ministries.

Moreover, He emphasized the importance of citizens' commitment to procedures for coexistence with Coronavirus and its precautionary controls implications.

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