PM: Presidential directives on exporters' overdue payments before end of 2020

CAIRO - 24 September 2020: Prime Minister Moustafa Madbouli underlined the government's keenness on boosting exports.

He noted that President Abdel Fattah El Sisi has directed to settle the problem of overdue payments for exporters before the end of year, stressing that the government seeks to increase investments and exports.

He made the remarks on Thursday while chairing a meeting of the ministerial economic committee. The governor of the Central Bank of Egypt (CBE) attended the meeting along with the ministers of planning, international cooperation, finance and trade and industry.

The heads of export councils for food, pharmaceutical, chemical, clothes and engineering industries attended the meeting.

The meeting reviewed problems facing exporters in various domains in order to take needed measures to solve them.

Meanwhile, the heads of the export councils voiced deep appreciation to President Sisi for seeking to alleviate their burdens, calling for swiftly paying back the value added tax.

Finance Minister Mohamed Maait responded that if the company has all needed documents, the ministry is ready to make a VAT refund within 48 hours of finalizing the specialized committee's work involved. 

The heads of the export councils offered some proposals to the CBE governor who pledged to examine them.

They hailed efforts exerted by the government to support the export sector, stressing that they will do their best to boost Egyptian exports in the coming stage.