Contractors to receive compensation for FX losses by the end of the current fiscal year

Contractors to receive compensation by the end of FY2017-18: The government will disburse by the end of the current fiscal year compensation packages to contractors for losses incurred on state projects as a result of the EGP float, Planning Minister Hala El Said said yesterday, Al Mal reports. The Housing Ministry has completed its initial report on the payout package, El Said said. Housing Minister Mostafa Madbouly had authorized the release of a 10% down payment to contractors back in July.