LE10B allocation for dues owed to pharmaceutical companies by Egypt
During a meeting with Prime Minister Mostafa Madbouly, Minister of Finance Ahmed Kouchouk announced the allocation of LE 4 billion this week to settle dues owed to pharmaceutical companies and medical supply providers.
He further confirmed that an additional LE 3 billion will be allocated next week, with another LE 3 billion the following week, totaling LE 10 billion to address a significant portion of these obligations.
Prime Minister Madbouly reaffirmed the government’s commitment to meeting all financial obligations in the pharmaceutical and medical supply sectors, highlighting the substantial progress made.
This initiative aims to enhance medicine availability in the market and stabilize the pharmaceutical industry.
Mohamed Al-Homsani, spokesperson for the Prime Minister’s Office, revealed that the meeting also reviewed Egypt’s financial commitments to the El-Dabaa Nuclear Power Plant project with Russia.
The Egyptian government reiterated its dedication to fulfilling all obligations, a position appreciated by the Russian side.
Additionally, Minister Kouchouk presented the ministry’s plans to enhance the performance of the Real Estate Tax Authority through a comprehensive development strategy.