Madbouly: Agreement with national press institutions to present a vision for settling their debts
Prime Minister Dr. Mostafa Madbouly confirmed that it was agreed with the national press institutions – during the meeting that took place yesterday – to present a clear vision and vision for settling debts, stressing the need to achieve financial sustainability within these entities, especially the giant national press institutions, to ensure that wage and salary crises do not reoccur.
The Prime Minister explained during the press conference he held after the weekly meeting of the Council of Ministers that the state will continue to support these institutions with great force, but it is important that recover, and that these institutions once again regain their ability to self-finance, expand their activities, and have financial sustainability.
He added that this measure had also been requested from the National Media Authority and Maspero specifically, where they were requested to submit a plan for financial settlement and operational sustainability.
He pointed out that the state had taken decisive steps to address the file of debts owed to the National Authority for Social Insurance by a number of agencies and institutions, stressing that these debts relate to the rights of pensioners, and cannot be waived.
Madbouly explained that the crisis had accumulated over the years as a result of some institutions not paying their insurance benefits, explaining that insurance benefits are the main source for disbursing pensions when workers reach retirement age, and therefore late payment was threatening the Authority’s ability to fulfill its obligations.
He pointed out that the state intervened by issuing a special law to settle these debts, according to which it became The Ministry of Finance is committed to transferring the Authority’s dues annually. He said: “This year we allocated 241 billion pounds to the National Social Insurance Authority to ensure the continued regularity of pension disbursement.”
Regarding the date of the IMF mission’s arrival to Egypt to complete the fifth and sixth review process, the Prime Minister indicated that the government continues to communicate with the International Monetary Fund, that the negotiations have reached a very advanced stage, and that a specific date has been agreed upon for the IMF mission’s visit within a few weeks.
He noted that it would be better for the official announcement of the date of the mission’s visit to be made by the Fund itself, in respect of the established procedures. He added that the next visit will include work on the fifth and sixth reviews of the cooperation program with the Fund, stressing that things are progressing in a positive and consistent manner with what was previously agreed upon, without any pressure on the government.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Related
