Egypt's parliament gives green light to private investment in railway sector

Egypt's parliament – the House of Representatives – finally approved on Sunday several government-drafted amendments to the 1980 law that regulates the performance of the debt-laden Egyptian Railway Authority (ERA), with a view rescuing the vital railways sector. Parliament Speaker Ali Abdel-Aal described the amended law (Law No 152/1980) as a crucial step to relieving the ERA of its chronic problems. "We all know that Egypt's railway authority suffers from massive debts, outdated operation systems, and dilapidated train locomotives and wagons," said Abdel-Aal. "The panacea for all of these chronic illnesses is to allow private investment in a bid to modernise this sector and rid it of its massive debts." Abdel-Aal, however, argued that "the amendments do not open the door for privatising the national railways."