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Industry Committee summons four ministers to stop selling Misr for Dairy and Food products - Daily News Egypt

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Industry Committee summons four ministers to stop selling Misr for Dairy and Food products

Assets are large, but debts have accumulated, and losses are unbearable, according to the company commissioner


The parliament’s Industry Committee, chaired by member of parliament (MP) Ahmed Samir, decided to summon the ministers of industry, business, manpower, and finance to respond to the note submitted by MP Abdul Hamid Kamal to stop selling Misr for Dairy and Food Company products.

During the discussion of the note at the committee on Tuesday, Kamal accused the government of selling major companies to the private sector at a cheap cost. He noted that Misr for Dairy and Food Company was one of the largest companies in its field in the Middle East, where it used to secure the entire country’s need of these products. He pointed out that there is an indication of corruption in selling the company, especially at the cheap price offered for it, compared to the size of its assets.

The company’s commissioner, Sayed Mohamed Khamis, said that the company has big assets in all of Egypt’s governorates, but has fallen under some circumstances that forced the company to sell some assets. Yet, debts have accumulated, and the losses became unbearable.

MP Kamal said that the products of the company were sold at affordable prices through outlets and distributors across Egypt.

He added that selling the company instead of developing it will be a huge economic and social loss—considering the services it used to provide to the public—and would make the private sector the controller of these products and their prices in the market.

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https://dailyfeed.dailynewsegypt.com/2017/03/15/industry-committee-summons-four-ministers-stop-selling-misr-dairy-food-products/
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