House to vote on compensation act next week -El Sewedy

The House of Representatives will be voting on the Compensation Act at a plenary session next week, MP and Federation of Egyptian Industries Chief Mohamed El Sewedy said, according to Al Borsa. The remarks come one day after contractors threatened to suspend work on government projects until the legislation — which would compensate suppliers and contractors for FX losses incurred after the float and has been in the works since December — is enforced. The bill is now being reviewed by Egypt’s State Council.