House Economics Committee discusses proposal to allocate 10% of private funds’ income to subsidy card system

The House Economics Committee is discussing a proposal to allocate up to 10% of the state-controlled “private funds” (the government’s semi-official slush fund) towards the country’s subsidy card system, Al Shorouk reports. The proposal, put forth by MP Mohamed Elsewedy, would also see 15% of these funds’ surplus revenues directed towards closing the state’s budget deficit. Private funds were initially formed to wean some government bodies off the Finance Ministry, but are criticized by some as being magnets for graft.