Data Source: The Cabinet Facebook Release
Dr. Mostafa Madbouly, the Prime Minister, held a meeting this evening to review the bids submitted for the national company for the sale and distribution of petroleum products, "Wataneya," which the government had previously announced as part of the state's plan to offer a number of government-owned companies.
The meeting was attended by Eng. Tarek El Molla, Minister of Petroleum and Mineral Resources, Dr. Hala El Said, Minister of Planning and Economic Development, officials from both ministries, the Egyptian Sovereign Fund, and the offering consultant.
Counselor Mohamed El-Hamsany, the official spokesperson for the Cabinet, stated that the meeting reviewed the bids submitted by several international and Egyptian companies, and highlighted the features of each bid.
He explained that during the meeting, the Prime Minister emphasized that the government is continuing to implement the offering of the National IPO program that was previously announced, as part of the state's ownership policy document, which aims to empower the private sector and increase its contribution to various economic activities. He also pointed out that the presence of major foreign companies in the submitted bids confirms confidence in the Egyptian economy and demonstrates that we have an attractive market for various investments.
In the same context, he noted that it has been previously emphasized that the state is serious about offering a number of companies affiliated with the armed forces, as evidenced by the steps taken in this file.
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