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Finance Ministry provides EGP 4.5bn urgent allocations for supply, railways, health insurance - Daily News Egypt

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Finance Ministry provides EGP 4.5bn urgent allocations for supply, railways, health insurance

$67.9m guarantee issued to purchase 295,000 tonnes of imported wheat

Minister of Finance Mohamed Moeit approved EGP 4.5bn in urgent allocations for July to the General Authority for Supply Commodities (GASC), Egyptian National Railways, the General Authority for Health Insurance, and the National Media Authority.

The allocations included EGP 3.75m for the GASC, which is the value of the financial support for goods bought through ration cards, the differences of bread points, and the differences in the costs of manufacturing bread in July.

A $67.9m guarantee was issued for the purchase of 295,000 tonnes of imported wheat.

A total of EGP 273.75m was allocated with the aim of meeting the needs of the basic healthcare sector of the Ministry of Health.

In addition, EGP 61m was allocated to the General Authority for Health Insurance in July to support female breadwinners, students, and children.

The allocations also included EGP 220m for the National Media Authority to meet its mandatory obligations towards workers in July.

Furthermore, the allocations included EGP 61.6m to the Egyptian National Railways to support students’ June subscriptions.

Also, EGP 62.5m was allocated to the employees of the three irrigation companies of the Holding Company for Water and Wastewater for July.

In addition, EGP 98.5m was allocated to the Cotton and Textile Industries Holding Company in order to provide the necessary liquidity for employees’ payment dues for July.

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