PM orders 10% payment of arrears to exporters

CAIRO, Jan 29 (MENA) - Prime Minister Moustafa Madbouli ordered on Wednesday the disbursement of ten percent of the full value of arrears to exporters.

Madbouli also ordered the full payment of delayed dues of small-sized companies if their dues do not exceed five million pounds.

Madbouli gave the remarks during a meeting with Finance Minister Mohamed Maait and Trade Minister Nevine el Gamae.

He said 1,422 companies have benefited from the ten-percent arrears payment initiative.

Also, arrears settlement deals were reached with 67 companies as the government agreed to pay the companies six billion pounds over five installments in return for carrying out extra projects or expansion of their existing projects.