Minister of Finance approves LE 4.4B of urgent settlements

CAIRO – 5 February 2018: Minister of Finance Amr al-Garhy approved number of urgent settlements worth LE 4.4 billion for January 2018, an official statement showed.

The statement clarified that these settlements are for the Commodity Supply Authority, the Railways Authority, and the General Authority for Health Insurance, the National Information Authority and the National Press Authority.

The statement added that LE 3.85 million went for the Commodity Supply Authority, besides issuing $ 207.5 million to import 950,000 tons of wheat.

“LE 60.6 million was allocated to the General Authority for Health Insurance in January 2018 and LE 50 million was for the National Press Authority to pay the salaries of workers in the press institutions,” according to the statement.

The settlements included LE 98.5 million as a contribution for the Holding Company for Cotton, Spinning and Weaving in order to provide liquidity for employees’ salaries. The amount of LE 62.5 million was also provided to the Holding Company for Water and Wastewater.

The National Railways Authority and subway subscriptions were involved in the settlements by LE 73.1 million and LE 4.9 million, respectively.

The ministry allocated LE 4.3 million as employees’ salaries at three irrigation companies and LE 2.6 million to the Higher Council for Culture.

In January, Ministry of Finance approved LE 3.7 billion as settlements for December 2017.