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IDA
Chairman pointed out that laboratories in the Health and Agriculture Ministries will check the imported wheat shipments indicating that the Minister of Agriculture found problem but the problem could be first solved by the sifting if not the shipments will be re exported.
IDA Chairman also highlighted that the government provided more than LE5000 billion during the last two years in order to subsidize the infrastructure of the industrial zones inside the Upper Egypt. Al kother industrial zone owns 103 existing industrial projects, 39 under construction projects, 33 under foundation projects, and as a result of the Upper Egypt incentives, 530 industrial projects were constructed with LE6.2 billion. The government also subsidized this zone with LE20 million.
IDA Chairman added that new procedures were taken to face the cement mafia in order to fix the prices such as imposing exports fees on the cement exports to be LE 65 for ton, the cement companies' case was transferred to the attorney general and 20 cement companies were finned with LE200 million as LE10 million for each companies. In addition to obligate all cements factories to print the cement price on the cement package besides banning the exportation of cements and clinker for four months to supply the local market needs.
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