Reclaiming state land from squatters is the right move, but the execution has been reckless, Soliman Gouda says in a column penned for Al Masry Al Youm. Authorities have used dynamite to destroy buildings that were illegally built on state-owned land, but have damaged other buildings and agricultural areas in the process. These reckless actions have resulted in losses to innocent citizens (which, by extension, count as losses to the state) and have given rise to accusations that the interests of the government and private sector are not aligned, Gouda writes.
More from Enterprise
Central Bank of Egypt looks to renew USD 2 bn Kuwaiti deposit as regional conflict stalls FDI conversions
The maturing USD 2 bn deposit is expected to be…
Miga guarantee unlocks USD 313 mn for National Bank of Egypt trade finance
Plus: Incolease taps securitization market with debut EGP 2 bn…
Ceasefire optimism triggers EGX30 rally and EGP recovery
The EGP gained around 2.5% on the greenback by the…
IBF & Company doubles down on logistics with Techno Metal acquisition
Plus: Lucky lands USD 23 mn in Series B round,…