Egypt’s Radio and Television Union LE11 billion in red, report finds

A meeting of parliament’s culture and information committee on Sunday discussed a report by Egypt's Central Auditing Organization revealing that the state-owned Radio and Television Union (RTU) had incurred a total of LE11 billion in losses.

MPs in attendance requested that Information Minister Anas al-Fiqi be summoned for an explanation.

According to the report, television air-time sales had fallen by some 2 million minutes, the marketing of Egyptian television serials on Arab-language satellite channels had waned, and income from advertising had decreased notably.

The report called on the RTU to set more competitive prices in an effort to attract advertisers and avoid taking out long-term bank loans.

Translated from the Arabic Edition.

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