El Sisi ratifies law to expedite payments to gov’t contractors, suppliers

LEGISLATION WATCH- Suppliers and construction outfits working on government contracts will receive EGP 10 bn in arrears after President Abdel Fattah El Sisi signed into law yesterday a bill adding EGP 10 bn to the current budget. The law, published in the official Gazette yesterday, would provide what appear to be expedited payments from the government to help its suppliers and construction service providers pay out salaries to their workers and continue work on major national projects. The government was reported in early April to be speeding up the payment of EGP 3.8 bn of arrears to contractors after construction companies were sent back to work on major projects such as the new capital and New Alamein.