{"id":593424,"date":"2019-11-27T04:02:08","date_gmt":"2019-11-27T04:02:08","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/govt-to-consult-trade-unions-on-public-enterprises-act-amendments\/"},"modified":"2019-11-27T04:02:08","modified_gmt":"2019-11-27T04:02:08","slug":"govt-to-consult-trade-unions-on-public-enterprises-act-amendments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/27\/govt-to-consult-trade-unions-on-public-enterprises-act-amendments\/","title":{"rendered":"Gov\u2019t to consult trade unions on Public Enterprises Act amendments"},"content":{"rendered":"

LEGISLATION WATCH- Gov\u2019t to consult trade unions on Public Enterprises Act <\/strong>amendments as committee wraps up review: <\/strong>The Public Enterprises Ministry is due to invite trade unions to public consultations on the proposed amendments to the Public Enterprises Act as a newly-formed committee<\/a> finalizes its review, the ministry\u2019s legal counsel Said Arafa said<\/a>.<\/p>\n

Changes to require state-owned enterprises (SOEs) to post financials, encourage them to list on stock exchange: <\/strong>Arafa disclosed a few new details about the current draft, including a new chapter on governance and transparency that would make it mandatory for SOEs covered by the legislation to make public their financial statements, Arafa said. The changes would also govern how JVs involving state companies will be formed and managed to promote better use of public funds, as well as give general assemblies more power to oversee the performance of company boards. Arafa also mentioned that the amendments include incentives for SOEs to go public, but did not elaborate.<\/p>\n

Other things we know about the changes:<\/strong> In April<\/a> local media quoted Public Enterprises Minister Hisham Tawfik saying that the amendments would remove listed companies in which the government owns a 75% stake from the legislation, and bring them within the scope of the Companies Act. The Public Enterprises Act currently applies to eight holding companies that own 121 subsidiaries in various industries and employ close to 250k workers. The legislation was first announced<\/a> by Tawfik over a year ago.<\/p>\n

What happens next? <\/strong>The draft changes will make their way to cabinet for approval after the committee completes its review. They will then head to the State Council (Maglis El Dawla) for a legal review and the House of Representatives for a final vote.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- Gov\u2019t to consult trade unions on Public Enterprises Act amendments as committee wraps up review: The Public Enterprises Ministry is due to invite trade unions to public consultations on the proposed amendments to the Public Enterprises Act as a newly-formed committee finalizes its review, the ministry\u2019s legal counsel Said Arafa said. Changes to […]<\/p>\n","protected":false},"author":1,"featured_media":593425,"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":[8572],"tags":[72,180,100,3557,79,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-593424","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-legislation","tag-policy","tag-public-enterprises-act","tag-public-enterprises-ministry","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"06dbd6a0-116d-4867-9036-ce82c0e1958c","is_powered_by":true,"section_story_id":"c239f9f9-9fcd-42fc-8928-e23f59358d77","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/11\/1075.jpg","photo_position":"above","related_issue":[593407],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t to consult trade unions on Public Enterprises Act amendments - 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\/2019\/11\/27\/govt-to-consult-trade-unions-on-public-enterprises-act-amendments\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gov\u2019t to consult trade unions on Public Enterprises Act amendments\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- Gov\u2019t to consult trade unions on Public Enterprises Act amendments as committee wraps up review: The Public Enterprises Ministry is due to invite trade unions to public consultations on the proposed amendments to the Public Enterprises Act as a newly-formed committee finalizes its review, the ministry\u2019s legal counsel Said Arafa said. 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He did not disclose details of the proposed\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":603409,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/companies-up-to-75-owned-by-the-state-could-be-reclassified-as-law-159-enterprises\/","url_meta":{"origin":593424,"position":2},"title":"Companies up to 75% owned by the state could be reclassified as \u201claw 159\u201d enterprises","author":"enterpriseam admin","date":"22 April 2019","format":false,"excerpt":"LEGISLATION WATCH- Companies up to 75% owned by the state could be reclassified as \u201claw 159\u201d enterprises: Listed companies in which the government owns up to a 75% stake would no longer fall under the Public Enterprises Act if draft legislation now being prepared is passed, Public Enterprises Minister Tawfik\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":593864,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/13\/el-sisi-forms-committee-to-work-on-public-enterprises-act-amendments\/","url_meta":{"origin":593424,"position":3},"title":"El Sisi forms committee to work on Public Enterprises Act amendments","author":"enterpriseam admin","date":"13 October 2019","format":false,"excerpt":"LEGISLATION WATCH- President Abdel Fattah El Sisi has formed a committee to work on amendments to the Public Enterprises Act, the local press reported. The committee will be chaired by the president\u2019s assistant for national and strategic projects, and will feature Public Enterprises Minister Hisham Tawfik, and representatives from the\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":573100,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/20\/house-approves-amendment-to-public-enterprises-act-postpones-approval-on-central-bank-act-covid-19-salary-tax\/","url_meta":{"origin":593424,"position":4},"title":"House approves amendment to Public Enterprises Act, postpones approval on Central Bank Act, covid-19 salary tax","author":"enterpriseam admin","date":"20 July 2020","format":false,"excerpt":"LEGISLATION WATCH- House approves amendment to Public Enterprises Act, postpones approval on Central Bank Act, covid-19 salary tax: The House of Representatives yesterday approved an amendment to the Public Enterprises Act that would allow the Sovereign Fund of Egypt to assume ownership of assets belonging to public sector companies, 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\/2020\/7\/159.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571485,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/13\/state-owned-companies-face-economic-viability-tests-and-could-get-a-special-break-on-capital-gains\/","url_meta":{"origin":593424,"position":5},"title":"State-owned companies face economic viability tests \u2014 and could get a special break on capital gains","author":"enterpriseam admin","date":"13 May 2020","format":false,"excerpt":"LEGISLATION WATCH- State-owned companies face economic viability tests \u2014 and could get a special break on capital gains. Proposed changes to the Public Enterprises Act would put in place new regulations to \u201cpromote financial stability\u201d in state-owned enterprises (SOE) and introduce new limits on board compensation, Public Enterprises Minister Hisham\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\/2020\/5\/139.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593424","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=593424"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/593424\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/593407"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/593425"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=593424"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=593424"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=593424"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=593424"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=593424"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}