Egypt’s Minister of Public Business Sector Mahmoud Esmat said on Friday the ministry’s affiliated companies face a real test of their ability to fulfill the local market requirements, meet the needs of citizens, increase production rates to boost exports, and support the state’s policy to rely on local products to reduce the import bill and relieve pressure on hard currency resources.
Esmat also underscored the necessity of intensifying efforts to cut costs and improve governance of revenues and expenses, the Ministry of Public Business Sector said in a statement yesterday.
The minister made the remarks during his meeting with the CEOs of holding companies as well as his assistants and advisers on investment, projects and company follow-up.
The meeting was meant to follow up on work progress at the ministry’s affiliated companies in addition to the status of projects in various sectors.
