{"id":625503,"date":"2018-08-07T03:27:25","date_gmt":"2018-08-07T03:27:25","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/07\/govt-to-allow-private-sector-to-own-just-under-50-of-a-public-sector-holding-companies\/"},"modified":"2018-08-07T03:27:25","modified_gmt":"2018-08-07T03:27:25","slug":"govt-to-allow-private-sector-to-own-just-under-50-of-a-public-sector-holding-companies","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/08\/07\/govt-to-allow-private-sector-to-own-just-under-50-of-a-public-sector-holding-companies\/","title":{"rendered":"Gov\u2019t to allow private sector to own just under 50% of a public sector holding companies"},"content":{"rendered":"

<\/a> LEGISLATION WATCH- Gov\u2019t to allow private sector to own just under 50% of a public-sector holding companies: <\/strong>The Public Enterprises Ministry has finished drafting amendments to the Public Enterprises Act that, if passed, would allow private-sector companies to own stakes of just under 50% in the ministry\u2019s holding companies, according to a copy of the proposed amendments published by Al Mal yesterday<\/a>. Under the current law, all ministry holding companies must be fully owned by the government. The draft amendments have been sent to the Madbouly Cabinet for review and would only become law after being passed by the House of Representatives and then signed into law by President Abdel Fattah El Sisi.<\/p>\n

Is this a prelude to a holding company privatization program?<\/strong> As the government looks set to kick off the state privatization program this fall, the news adds interesting spice to an already much-anticipated program, suggesting the government could widen the scope of its privatization drive to include massive state holding companies.<\/p>\n

The amendments also introduce private-sector-friendly board regulations<\/strong>, according to the draft. This would limit government seats on the boards of state holding companies to seven seats at most. It would also set a three-year term limit for the boards.<\/p>\n","protected":false},"excerpt":{"rendered":"

LEGISLATION WATCH- Gov\u2019t to allow private sector to own just under 50% of a public-sector holding companies: The Public Enterprises Ministry has finished drafting amendments to the Public Enterprises Act that, if passed, would allow private-sector companies to own stakes of just under 50% in the ministry\u2019s holding companies, according to a copy of the […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-625503","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"ec0fe544-fbac-4fcb-83b2-aebdf82128c4","order":"0","is_powered_by":true,"section_story_id":"2375554a-4d92-45de-ae7e-dff03b2f8e5c","story_type":"1","photo_url":"","photo_position":"above","related_issue":[625496],"teaser":"","voice_url":""},"yoast_head":"\nGov\u2019t to allow private sector to own just under 50% of a public sector holding companies - 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The Public Enterprises Ministry could offer private investors the management rights to three bus companies before merging them together, Minister Hisham Tawfik said, according to Al Mal. 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The Holding Company for Maritime and Land Transport is in talks with international consulting firms to evaluate its plans to restructure and merge a number of its subsidiaries, sources told 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":[]},{"id":622600,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/08\/public-enterprises-act-amendments-completed\/","url_meta":{"origin":625503,"position":2},"title":"Public Enterprises Act amendments completed","author":"enterpriseam admin","date":"8 October 2018","format":false,"excerpt":"LEGISLATION WATCH- Public Enterprises Act amendments completed: The Public Enterprises Ministry has completed drafting the amendments to the Public Enterprises Act that could open the door for the government to list state holding companies, Minister Hisham Tawfik tells Al Masry Al Youm. 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