Business sector unready for privatisation, restructuring to take place: Investment minister

Investment Minister Ashraf Salman has said the business sector is currently unready for stock market offerings, and that he prefers to revitalise companies through government restructuring programmes.

In a press conference held for CI Capital, Salman said the government is working to develop these companies "by subjecting them to reward and punishment programmes and holding those responsible accountable for managing the companies according to what is achieved in terms of value-added".

According to the minister, the restructuring process is aimed at developing companies, whether via financial, technical, or administrative means.

There are eight holding companies in Egypt, including 125 subsidiaries of the Ministry of Investment, according to Salman.