The Government Owes the Electricity Ministry EGP 10.8b

The Government Owes the Electricity Ministry EGP 10.8b

The ministry of electricity is owed by state entities EGP 10.8b,  an official at the ministry of electricity told Al Mal.

The majority of the debt is owed by the Holding Company for Water and Wastewater (HCWW), where its debt to the ministry of electricity amounts to EGP 5.3b. The Ministry of Religious Endowment owes around EGP 3b. The remainder of the amount is owed by the administrative machinery in different ministries, one of which is the tourism ministry which owes EGP 560m, accumulated between 2010 and 2016. The Cabinet, however, issued a decision in November 2015 to postpone payment of dues owed by tourism sector to governmental agencies, including electricity, water, sanitary, gas and insurance for 6 months. The dues, according to the decision, shall be paid in installments over 24 months without interest until the tourism sector recovers.

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