Gov’t restores 1.8 mn people to subsidy rolls: The Supply Ministry has added to the country’s subsidy rolls some 1.8 mn people who were wrongfully removed from the system under the ministry’s Great Subsidy Rolls Purge, the ministry said yesterday. The announcement came a day following President Abdel Fattah El Sisi’s tweet about measures to shore up the social safety nets and help “protect the rights” of low-income citizens affected by subsidy cuts. The purge of the welfare rolls as part of the ministry’s reforms to the subsidy program have recently entered their fourth phase, and saw the removal of 8 mn Kramers (our semi-fond term for welfare frauds), Supply Minister Ali El Moselhy previously said. Bloomberg also covered the story.
More from Enterprise
Banks threaten to look beyond London as windfall tax talk grows
International lenders say more tax could tip the balance as…
Granite is about to test whether Egypt’s funds still need administrators
The asset manager and blockchain builder Tarmiiz have entered the…
Gulf stock exchanges are growing in importance, but they’re still a long way from becoming capital market hubs -Fitch
The diagnosis lands in a year when UAE and Saudi…
Egyptian-UK fintech Zeal raises USD 10 mn to back expansion plans
The London-based, Egyptian-founded fintech is preparing to activate its loyalty…