Hisham Tawfik Minister of Business: Re-pricing of 570 classes of drugs soon in coordination with "Health" (dialogue)

Although he did not hold the post of Minister of Public Affairs for a month only, he came to confirm in his interview with Al-Masry Al-Youm that he was a good Disciple of a number of cases from this important department, which was related to the stock market, as companies returning from privatization, and expressed his continuous thinking over the past two years, how to implement this return after the publication of the final judgments.

Hisham Tawfiq, Minister of Public Sector, Medications and What They Are Preparing to Meet with Dr. Hala Zayed, Minister of Health, to Negotiate the Rebadessment [5709] The Term "Tawfiq" refers to the future of the Egyptian dream of making a local car, explaining that this dream is a "serious mistake" due to lack of value

He expressed optimism about the spinning industry and weaving in Egypt, which will hold meetings with ministers of industry and agriculture, to announce a new strategy for the development of the industry and the elimination of its problems . From the cotton culture and set new policies for cotton cultivation Egypt, and the competition for the prices of American cotton .. And to the text of the dialogue:

The Egyptian Today Hisham Tawfiq, Minister of Public Works

■ Is there an expected change in the management of holding companies and subsidiaries?

■ What is the latest update of the contribution of the public enterprise sector to the proposal program?

– We have completed the schedule and the percentages are final, and from October 1 to December, the offer period of two months, including 4.5% of the Eastern Tobacco Company, for 50.5% of the Company's listed shares will become part of the Public Company Corporations Act, Law 159, and the new housing corporation will be transformed into the same law.

. In general, we need to get out of the Contributions Act 203, which has many benefits: private sector participation, over 50% of its contributions, stagnant water movement, exploitation of the benefits of management and private sector management. The company "Heliopolis" for housing, which was for 3 years in combination

■ Is there any intention to convert other companies to Law 159?

– I have hope, and some will be listed.

– I have not met Dr. Hala al-Said, the Minister of Planning, to see the model, and there may be two ways, the first in the planning of state property , the other In the public enterprise sector, the meeting will be held to identify the needs.

■ Is there an inventory of badets in public affairs? 59008] – Yes, we have two tracks in the inventory of unused badets, and we will finish in a few days, another inventory of accumulated debt on the sector, and we will complete it soon, and it will be n & # 39; There are no definitive figures for the moment.

– I do not know what will be done until now, and that's a question I'm asking myself two years ago, and I do not know why these provisions were issued and what is the desire to publish them.

] ■ Is there correspondence with the State Council on the mechanisms for implementing these provisions?

– Yes, and we began to speak

■ What is the position of international arbitration compared to non-Egyptian investors as in the case of Omar Effendi and other companies ?

– For Omar Afandi, the settlement was almost finalized, with the International Finance Corporation C & # 39; s is a wonderful thing, because this conflict was one of the obstacles to obtaining funding, because that every time the funding is increased, it is answered by this conflict.

■ Is it finally resolved?

– Yes An agreement was reached, and IFC's $ 35 million debt, $ 30 million in loans and $ 5 million in contributions. [1] 9659008] What is the position of the development of Omar Effendi?

– Omar Effendi will be developed, but through real estate investing, and I do not want to go into details, especially since it was only a month after taking office,

■ Is there a development for holding companies?

– All the holding heads were instructed to prepare studies to clarify the current status of each subsidiary, and to submit these studies at meetings of each Company, each meeting will take 6 hours with each holding company , and was commissioned to be completed in the coming weeks, namely

– Develop an badysis of investment opportunities, development and modernization opportunities, and identify the risks we are pledging at the level of the company. 39, industry, such as price risks in the pharmaceutical and fertilizer industries, If the studies confirm that there are risks, each case will be studied individually, led by major companies, followed by the companies less affected and faced with small problems.

Does the government and the relevant ministries tend to re-evaluate the prices of drugs and fertilizers? ?

– There are problems, we have meetings The Ministry of Health decided to re-evaluate drugs produced by public sector companies, followed by a meeting with the ministries of Industry and of Agriculture to study the cultivation and use of Egyptian cotton in spinning and weaving. I'm talking about a specific product, or price increase, but I'm talking about the re-evaluation of these drugs: the Ministry of Finance should intervene in public affairs and health if it wants that the support continues; Factories.

■ Will companies be developed?

– Holding for Pharmaceuticals, Chemicals and Medical Supplies, presented a draft budget for the 2018/2019 fiscal year, which includes many challenges and difficulties faced by the subsidiaries, including aging machines and production lines, and value (19659008) The financial statements also included a total business turnover of LE 243.8 million, a growth rate of 12.7% over the actual profit of the company. 39, fiscal year 2016/2017, while the net profit target About 91 million pounds, an increase of 11.6% The performance indicators for all holding companies have shown that the Target business activity turnover amounted to LE 15.3 billion, an increase of 30% over the 2016/2017 financial year, the goal being to achieve a net profit LE 278 million, (EF 06/06) and published guidelines on prep ation of the consolidated financial statements including the results of the targeted transactions of the Holding and its subsidiaries, as well as the independent financial statements of the Holding, giving more indicators reflecting the performance of the portfolio, the meeting is held and to coordinate with the Department of Public Works on the development of an emergency plan for the operation of untapped badets, and the importance of setting up a new system registration of new products at the Ministry of Health.

■ There is fear of a return to privatization and damage to workers?

– I met the leaders of the three unions and all concerned parties are engaged and involved

The Ministry will also pursue a policy of comprehensive corporate reform, particularly sectors in difficulty, including spinning and weaving. And the automotive industry industries and nurturing industries, and are working on the development of radical solutions and the finalization, and intensive coordination with the ministries and stakeholders to resolve the issues and topics have been stalled for many years. The provisions of Law No. (96) for the year 2018 regarding the granting of allowances and increases to the employees of the holding companies and their subsidiaries and taking the necessary legal procedures, knowing that the employees of the companies of the ministry will exceed the minimum for public servants. Welcomed by the union leaders who confirmed their support for the business reform plan and its continuation, emphasizing that the work base is the main support of the development program, as the improvement of the business condition reflects positively on their employees. (19659008) – The historical debt settlement was £ 20 billion in 2006, not £ 32 billion, and there is no collective settlement in the housing sector. business, but there is a sporadic debt with four parts: electricity, oil and insurance.

and chaired two general and extraordinary general meetings of the holding company for the chemical industries, the planning budget for the 2018/2019 financial year and the vision of the future company and its development project Companies

The Holding aims to achieve a net profit of 488 million LE and a business turnover of 1.162 billion LE in fiscal year 2018/2019. For subsidiaries, the net profit target is in the order of LE 2.9 billion, while the target business income is LE 21.4 billion

The "Holding" accurately studies the investment projects contained in the budget, determines the technical and financial feasibility of each project, (19659008) The General Assembly approved the payment of 600 million pounds to the Ministry of Finance . From him in the profits of the 2017/2018 fiscal year, and the payment of debts owed by the company to the Ministry of Finance.

The Extraordinary General Meeting of the Holding of Chemical Industries decided to approve the increase of the capital issued and released from LE 913 thousand to LE 4 billion,

■ Textile debt and Did the National Bank's textile textile industry come to an end?

– Not yet completed, but almost completed, unfinished in electricity and oil and open to negotiation.

■ What is the position of Kima fertilizer in Aswan?

This is not the case

What about the "victory" of cars?

– In the past, the dream was to produce an Egyptian car and get back to the thinking of the 1960s. It's a big mistake because what's happening now Screwdrivers, "so the local component does not have to not be less than 60% of the product.Therefore, we can build on the automotive industry other nutritious industries, for example if we want to talk about an Egyptian lantern, if the local component is of 10% and the remaining 90% Import, how to say that the lantern of an Egyptian industry, although the Egyptian company is manufactured, and so the added value does not exceed 10%, and so Nerg This will not happen if we do not bring at least one international car brand, and the minimum will be 25 thousand cars produced. This ratio will not be absorbed by the Egyptian market, the next investor should know that Egypt will be a base of With an added value 60% of the local component, and fortunately the Minister of Industry came from this area, which helps us achieve this added value and attracting partner investors, France has stopped making cars "Logan" locally and what we manufacture And the Minister of Industry will provide a partner.

■ What is happening in textiles? 19659008] – We will meet the trade, industry and agriculture ministers to adopt an integrated strategy that starts from agriculture to spin and weave because the problems do not stop to industry but to agriculture, up to the export of cotton. And the policy of growing cotton, because it's unreasonable to plant about 2.5 million quintals, and import about two million quintals of cotton, and the collection of gold impurities should not be used, and we will draw a policy and a strategy, because spinning and textiles are optimistic. Will be folded

– Depends on the studies conducted by the holding companies and held a meeting with the directors and members of the boards of directors of the holding companies under the supervision of the Ministry, in the presence of several officials of the Ministry of the Business Sector at the headquarters of the Leadership Development Center for Business Administration (19659008) and stressed the completion of business development procedures in the Ministry of Higher Education and the Ministry of Higher Education. Operations framework In addition to continuing to pay off subsidiaries' debts to government agencies, in addition to updating the inventory of real estate badets held by businesses to maximize their use and exploit unused badets, accelerate procedures offer shares of subsidiaries to the Egyptian Stock Exchange In coordination and cooperation with the Ministry of Finance, and emphasize that the main objective is to develop the performance of subsidiaries, and that the rehabilitation of the human component is the One of the priorities of the restructuring program by training employees and increasing their skills and the management of the holding companies have conducted an in-depth study of the different sectors in which the subsidiaries work and identify the strengths, weaknesses, opportunities and challenges in a timely manner. three weeks and clbadification of companies against performance indicators this financial and operational. Appropriate strategies to deal with all businesses.