PM Oversees Settling Interministerial Financial Records

PM Oversees Settling Interministerial Financial Records

Prime Minister Mostafa Madbouly held a meeting on August 7 to follow up on resolving financial entanglements between ministries, according to a Cabinet statement.

The meeting was attended by the Minister of Petroleum, Tarek El Molla; the Minister of Electricity, Mohamed Shaker; and the Minister of Finance, Mohamed Maait.

The meeting came three weeks after the first meeting was held on July 18 to resolve this issue, as part of the government efforts to resolve and settle financial entanglements between different ministries, in order to ease the burden on the general budget and improve the ministries’ financial position, said the cabinet’s official spokesman, Nader Saad.

During the meeting, ministers reviewed the outcomes of the technical meetings that were held with experts and government representatives over the last period to reach an agreement over arrears.

Madbouly praised the ministers’ flexibility as they work together to reach a proper settlement for the issue, ensuring that this strategy will enable some ministries to promptly collect receivables that would have otherwise taken at least several years. The Prime Minister further stressed that meetings will continue to periodically follow up on relevant progress until a final settlement is reached.


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