PM, El Molla, Finance Minister Discuss Resolving Monetary Entanglements

Prime Minister Mostafa Madbouly held a meeting today to discuss resolving financial entanglements between the Ministries of Petroleum and Mineral Resources, Electricity and Renewable Energy, and Finance.

The meeting was held in the presence of Mohamed Shaker, Minister of Electricity and Renewable Energy; Tarek El Molla, Minister of Petroleum and Mineral Resources;  Mohamed Maait, Minister of Finance; Ahmed Kajouk, Deputy Minister of Finance for Financial Policies; and several officials from the three ministries.

The Prime Minister started the meeting by stressing that the steps taken to resolve financial entanglements come as part of an effort to remove old irregularities that have hindered the Egyptian economy for decades.

Madbouly asserted that this is a complex issue that needs to be resolved effectively in accordance with the requests of President Abdel Fattah El-Sisi.

The meeting reviewed steps being taken to end financial entanglements between the ministries within the framework of laying the foundations acceptable for debt settlement between the concerned parties.