{"id":547170,"date":"2022-06-12T04:10:59","date_gmt":"2022-06-12T04:10:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/12\/parts-of-the-senate-dont-love-the-govts-privatization-plans\/"},"modified":"2022-06-12T04:10:59","modified_gmt":"2022-06-12T04:10:59","slug":"parts-of-the-senate-dont-love-the-govts-privatization-plans","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/12\/parts-of-the-senate-dont-love-the-govts-privatization-plans\/","title":{"rendered":"Parts of the Senate don\u2019t love the govt\u2019s privatization plans"},"content":{"rendered":"

<\/a> Gov\u2019t privatization plans get more parliamentary pushback:<\/strong> The Senate is this week set to discuss a report in which it calls for the government to reconsider plans to fully exit from certain sectors of the economy<\/a>, according to Yasser Zaki, deputy chairman of the Senate\u2019s financial and economic affairs committee.<\/p>\n

What report?<\/strong> The Senate doesn\u2019t debate the annual budget \u2014 but it can debate the adjacent sustainable development plan and budget from the Planning Ministry. Both budgets are currently making their way<\/a> through the House of Representatives. The Senate will use its financial committee\u2019s report on the Planning Ministry\u2019s budget to discuss some reps\u2019 objections to the wider privatization plan, which is set to see the government fully withdraw from as many as 79 industries over the next three years as part of plans to restructure the economy in favor of the private sector.<\/p>\n

What they said: <\/strong>\u201cWe think that the state\u2019s dominant role, going hand in hand with the private sector, should be maintained in order for the country to be able to stand up to global economic crises, absorb their shock and mitigate their negative impact on vulnerable classes,\u201d the report reads. It also calls on state-owned industrial firms to be restructured to maximize exports and foreign-denominateed earnings, \u201cinstead of privatizing or selling off these companies.\u201d<\/p>\n

REMEMBER- This is all part of the normal cut and thrust of parliamentary politics (and some reps don\u2019t love to hear the word \u201cprivatization\u201d). <\/strong>Some MPs in the House of Representatives have also been voicing their opposition<\/a> to the state\u2019s plans to sell stakes in state-owned assets to local and international investors \u2014 and any mention of privatization has long spooked a certain segment of elected officials. And remember, the impetus on this is coming from Ittihadiya, so it is unlikely to be swayed by the opposition.<\/p>\n","protected":false},"excerpt":{"rendered":"

Gov\u2019t privatization plans get more parliamentary pushback: The Senate is this week set to discuss a report in which it calls for the government to reconsider plans to fully exit from certain sectors of the economy, according to Yasser Zaki, deputy chairman of the Senate\u2019s financial and economic affairs committee. What report? The Senate doesn\u2019t […]<\/p>\n","protected":false},"author":1,"featured_media":547171,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9135],"tags":[279,72,2006,392,587],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-parliament-watch","tag-budget-watch","tag-enterpriseam","tag-parliament-watch","tag-senate","tag-state-privatization-program","wpautop","entry"],"acf":{"mongo_id":"20b7d0a2-5c4d-4afc-a0d0-80057763e387","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/6\/231.jpeg","photo_position":"above","related_issue":[547157],"teaser":"","voice_url":""},"yoast_head":"\nParts of the Senate don\u2019t love the govt\u2019s privatization plans - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/12\/parts-of-the-senate-dont-love-the-govts-privatization-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Parts of the Senate don\u2019t love the govt\u2019s privatization plans\" \/>\n<meta property=\"og:description\" content=\"Gov\u2019t privatization plans get more parliamentary pushback: The Senate is this week set to discuss a report in which it calls for the government to reconsider plans to fully exit from certain sectors of the economy, according to Yasser Zaki, deputy chairman of the Senate\u2019s financial and economic affairs committee. 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A group of representatives in yesterday\u2019s plenary session at the House of Representatives\u2026","rel":"","context":"In "PARLIAMENT WATCH"","block_context":{"text":"PARLIAMENT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/parliament-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":544942,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/29\/govt-downgrades-fy-2021-2022-gdp-forecast\/","url_meta":{"origin":547170,"position":4},"title":"Gov\u2019t downgrades FY 2021-2022 GDP forecast","author":"enterpriseam admin","date":"29 March 2022","format":false,"excerpt":"Surprise: The economy won\u2019t grow as much as expected this year due to Russia\u2019s war in Ukraine: The government has lowered its growth outlook for FY 2021-2022 to 5.7% from 6.4% due to the economic impact of the war in Ukraine, Planning Minister Hala El Said told Bloomberg Asharq yesterday\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/684.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577685,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/01\/cabinets-state-ownership-policy-just-advanced-a-notch-but-we-need-an-independent-export-promotion-agency-if-we-want-to-unlock-its-benefits\/","url_meta":{"origin":547170,"position":5},"title":"Cabinet\u2019s state ownership policy just advanced a notch, but we need an independent export promotion agency if we want to unlock its benefits","author":"enterpriseam admin","date":"1 December 2022","format":false,"excerpt":"State ownership policy gets final nod from cabinet: The cabinet yesterday approved the final draft of the Madbouly government\u2019s state ownership policy document, following amendments made after months of consultations with public and private-sector stakeholders, it said in a statement. 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