The Egyptian House of Representatives approved in principle during a session under Speaker Hanafi Gebali on Monday a draft law presented by the government on amending some articles of Law 30 of 1975 on the Suez Canal Authority system.
The amendment aims at establishing a fund belonging to the authority and increasing its capabilities to contribute to achieving sustainable economic development and make use of the fund’s money as well as enabling the fund to purchase, sell, hire and exploit assets in the best way.
The amendment also aims at enabling the authority to deal with crises and emergency conditions resulting from exceptional circumstances and bad economic conditions.
It also aims at enabling the authority to perform its economic and investment activities and increase its capital and investments in securities.
