Minister: public sector companies may sell part of assets to solve liquidity problem

The Egyptian Investment Minister Ashraf Salman said that the public sector companies that do not have enough liquidity in order to participate in joint projects with private sector companies, will be obliged to sell part of the their assets to avoid bankrupcy, according to Al-Mal newspaper.
The minister also clarified that the debt of the public sector at the National Investment Bank has reached LE20 billion (US$2.6 bn) and the ministry is considering swapping it for assets, such as land plots or company shares.

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