{"id":577383,"date":"2022-11-21T04:00:07","date_gmt":"2022-11-21T04:00:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/house-gives-initial-approval-to-contractor-compensation-bill\/"},"modified":"2022-11-21T04:00:07","modified_gmt":"2022-11-21T04:00:07","slug":"house-gives-initial-approval-to-contractor-compensation-bill","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/house-gives-initial-approval-to-contractor-compensation-bill\/","title":{"rendered":"House gives initial approval to contractor compensation bill"},"content":{"rendered":"

MPs are giving contractors a break<\/strong>, approving in principle yesterday amendments<\/a> that would allow builders who have suffered losses on state projects due to recent economic reforms to receive compensation from the government.<\/p>\n

Widening the scope:<\/strong> A 2017 law\u2060 \u2060\u2014 which was originally drafted for economic reforms undertaken between March and December 2016 \u2014 will be extended to cover all periods of reform. That means a contractor impacted by the impact of year\u2019s EGP float on its work on a state project will be able to file a compensation claim. The bill will set up a designated committee to assess claims, Parliamentary Affairs Minister Alaa El Din Fouad said. Contractors who have their complaints rejected would be able to resort to courts to ask for compensation, he said. Senators approved the bill<\/a> last month.<\/p>\n

What\u2019s next:<\/strong> House Speaker Hanafi El Gebali said the bill will be up for a final approval vote in an upcoming session. If passed, it will be signed into law by President El Sisi.<\/p>\n

ALSO GETTING A NOD- MPs also approved in principle a <\/strong>law restructuring Al Azhar<\/a><\/strong>.<\/strong> The three-article bill would put Al Azhar\u2019s teachers on an equal footing with their counterparts in public schools in terms of employment, promotion, salaries, bonuses and incentives. A final approval of the bill will be postponed to an upcoming session.<\/p>\n","protected":false},"excerpt":{"rendered":"

MPs are giving contractors a break, approving in principle yesterday amendments that would allow builders who have suffered losses on state projects due to recent economic reforms to receive compensation from the government. Widening the scope: A 2017 law\u2060 \u2060\u2014 which was originally drafted for economic reforms undertaken between March and December 2016 \u2014 will […]<\/p>\n","protected":false},"author":1,"featured_media":577384,"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":[7344],"tags":[6401,72,819,187,7110],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577383","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislation-watch","tag-egp-devaluation","tag-enterpriseam","tag-fuel","tag-legislation-watch","tag-vat","wpautop","entry"],"acf":{"mongo_id":"0ab07813-7793-4633-9d37-e93e0422d0f3","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/321.jpg","photo_position":"above","related_issue":[577368],"teaser":"","voice_url":""},"yoast_head":"\nHouse gives initial approval to contractor compensation bill - 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\/11\/21\/house-gives-initial-approval-to-contractor-compensation-bill\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House gives initial approval to contractor compensation bill\" \/>\n<meta property=\"og:description\" content=\"MPs are giving contractors a break, approving in principle yesterday amendments that would allow builders who have suffered losses on state projects due to recent economic reforms to receive compensation from the government. Widening the scope: A 2017 law\u2060 \u2060\u2014 which was originally drafted for economic reforms undertaken between March and December 2016 \u2014 will […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/house-gives-initial-approval-to-contractor-compensation-bill\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-21T04:00:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/321.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/house-gives-initial-approval-to-contractor-compensation-bill\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/house-gives-initial-approval-to-contractor-compensation-bill\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House gives initial approval to contractor compensation bill\",\"datePublished\":\"2022-11-21T04:00:07+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/house-gives-initial-approval-to-contractor-compensation-bill\/\"},\"wordCount\":229,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/house-gives-initial-approval-to-contractor-compensation-bill\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/11\/321.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EGP devaluation\",\"EnterpriseAM\",\"fuel\",\"Legislation Watch\",\"VAT\"],\"articleSection\":[\"LEGISLATION WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/house-gives-initial-approval-to-contractor-compensation-bill\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/21\/house-gives-initial-approval-to-contractor-compensation-bill\/\",\"name\":\"House gives initial approval to contractor compensation bill - 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November 2022","format":false,"excerpt":"Good news for government contractors: Senators yesterday approved legal amendments that would allow contractors who have suffered losses because of recent economic reforms to receive compensation from the government.The current bill was drafted with 2016 in mind: The original 2017 law was drafted to provide compensation for losses caused by\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/43.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577244,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/15\/senate-tweaks-fx-for-tax-cut-plan-contractors-bill-clears-committee-in-the-house\/","url_meta":{"origin":577383,"position":1},"title":"Senate tweaks FX-for-tax cut plan, contractors bill clears committee in the House","author":"enterpriseam admin","date":"15 November 2022","format":false,"excerpt":"What happened in the upper and lower houses of parliament yesterday?#1- The contractor compensation bill is heading to the House general assembly: The House Housing Committee yesterday gave a final approval to amendments that would see the government pay compensation to contractors who have suffered losses on the back of\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/237.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577447,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/23\/mps-approve-bills-on-telecoms-real-estate-contractors\/","url_meta":{"origin":577383,"position":2},"title":"MPs approve bills on telecoms, real estate, contractors","author":"enterpriseam admin","date":"23 November 2022","format":false,"excerpt":"Four bills get final nod in the House of Representatives: MPs yesterday gave final approval to a number of legislative amendments focused on regulatingtelecommunications, compensating contractors for losses on state contracts, and property registration in new cities. The final sign offs were the last before the House adjourned, with the\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/355.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577212,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/fx-for-tax-cuts-plan-earns-senate-approval\/","url_meta":{"origin":577383,"position":3},"title":"FX-for-tax cuts plan earns Senate approval","author":"enterpriseam admin","date":"14 November 2022","format":false,"excerpt":"Senators approve FX-for-tax cuts incentives: The Senate has approved legalamendments that would grant income tax breaks to investors who use FX to finance at least half of the cost of their projects. Under the proposed amendments to the 2017 Investment Act, companies would receive a tax cut of up to\u2026","rel":"","context":"In "LEGISLATION WATCH"","block_context":{"text":"LEGISLATION WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/219.jpeg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":649988,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/03\/14\/contractors-compensation-act-now-slated-for-mid-april-instead-of-march\/","url_meta":{"origin":577383,"position":4},"title":"Contractor\u2019s Compensation Act now slated for mid-April instead of March","author":"enterpriseam admin","date":"14 March 2017","format":false,"excerpt":"No Contractor Compensation Act before mid-April: Contractors shouldn\u2019t expect until sometime in April a bill designed to allow the government to compensate them for losses on state contracts that need to be repriced post the float of the EGP.Housing Committee member Khaled Abdel Aziz says. Media reports last week said\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645122,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/12\/contractors-want-state-to-include-fuel-and-energy-prices-hikes-under-compensation-act\/","url_meta":{"origin":577383,"position":5},"title":"Contractors want state to include fuel and energy prices hikes under compensation act","author":"enterpriseam admin","date":"12 July 2017","format":false,"excerpt":"Contractors want state to include new fuel and electricity price hikes under Contractors Compensation Act: Contractors are requesting that the state factor in the effects of the latest fuel and energy price hikes when repricing their contracts under the Contractors\u2019 Compensation Act, New Urban Communities Authority (NUCA) chief Zein Al\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=577383"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577383\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577368"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577384"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577383"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577383"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}