Gov’t to put National Cement Company out of its misery

It appears that the government is leaning towards pulling the plug on the floundering National Cement Company, which has been racking up annual losses of around EGP 900 mn, according to sources from the Public Enterprises Ministry. While Minister Hisham Tawfik had said that the results independent auditors report would determine the outcome, preliminary findings suggest that the company be liquidated, according to Masrawy. The firm’s general assembly is expected to vote to kill the company this week, when the report is presented. Fears now turn to the reaction of workers, who have been striking on and off for many months.