{"id":632467,"date":"2018-02-12T04:14:49","date_gmt":"2018-02-12T04:14:49","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/12\/privatizing-railways-gets-preliminary-nod-from-parliament\/"},"modified":"2018-02-12T04:14:49","modified_gmt":"2018-02-12T04:14:49","slug":"privatizing-railways-gets-preliminary-nod-from-parliament","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/02\/12\/privatizing-railways-gets-preliminary-nod-from-parliament\/","title":{"rendered":"Privatizing railways gets preliminary nod from Parliament"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-01\"><\/a> <strong>LEGISLATION WATCH- Privatization of railways gets preliminary nod from Parliament: <\/strong>The House of Representatives gave its preliminary sign-off on amendments to the Railway Act on Sunday that would open up the sector to private companies, <a href=\"http:\/\/www.almasryalyoum.com\/news\/details\/1257429\">Al Masry Al Youm reports<\/a>. The amendments will allow businesses to build and operate railway lines and to bid for upgrade projects. <a href=\"https:\/\/enterprise.press\/stories\/2017\/10\/25\/private-sector-to-get-in-on-railways-in-2018\/\">As we noted last year<\/a>, the law at this time will not allow private companies to own railway assets. The law would also establish a new railways regulator to govern private sector involvement in sector projects.<\/p>\n<p>Also yesterday,<strong> the House voted in favor of extending the mandate of the Tax Dispute Resolution Act for another two years<\/strong>, according to <a href=\"http:\/\/www.mof.gov.eg\/Arabic\/MOFNews\/Press\/Pages\/news-a-11-2-18.aspx\">a statement from the Finance Ministry<\/a>. MPs had also signed off on amendments to the law that establish committees to settle real estate tax disputes. The ministry also stated that it will be restructuring current tax dispute committees and will form new ones to handle cases involving the stamp and value-added tax. Since its inception in 2016, the law has resolved around 7,000 tax disputes and contributed EGP 15.6 bn to state coffers, the ministry added.<\/p>\n<p><strong>The House also gave preliminary approval yesterday to amendments to the Eminent Domain Act<\/strong>, which grant the president of the republic the right to seize privately-owned land under eminent domain and offer compensation, which must include a 20% premium on the value of the land, <a href=\"http:\/\/www.almalnews.com\/Story\/364482\/19\/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D8%B5%D9%88%D8%AA-%D8%B9%D9%84%D9%89-%D8%AA%D8%B9%D8%AF%D9%8A%D9%84%D8%A7%D8%AA-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D9%86%D8%B2%D8%B9-%D9%85%D9%84%D9%83%D9%8A%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D8%A7%D8%AA-%D9%84%D9%84%D9%85%D9%86%D9%81%D8%B9%D8%A9-%D8%A7%D9%84%D8%B9%D8%A7%D9%85%D8%A9\">Al Mal reports<\/a>. A final vote on the law, which also grants governors the right to seize land temporarily under the statute, was <a href=\"http:\/\/www.youm7.com\/story\/2018\/2\/11\/%D8%A7%D9%84%D8%A8%D8%B1%D9%84%D9%85%D8%A7%D9%86-%D9%8A%D9%88%D8%A7%D9%81%D9%82-%D8%B9%D9%84%D9%89-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D9%86%D8%B2%D8%B9-%D8%A7%D9%84%D9%85%D9%84%D9%83%D9%8A%D8%A9-%D9%85%D8%A8%D8%AF%D8%A6%D9%8A%D8%A7-%D9%88%D9%8A%D8%A4%D8%AC%D9%84-%D9%85%D9%86%D8%A7%D9%82%D8%B4%D8%A9-%D9%85%D9%88%D8%A7%D8%AF%D9%87\/3644860\">postponed due to lack of quorum<\/a>. The law appears to be part of a series of acts that primarily aim to curb informal settlements and building violations, MPs tell the newspaper.<\/p>\n<p><strong>Also on the docket is the Unified Building Code<\/strong>, another tool to curb the spread of informal housing, which members of the Housing Committee finished reviewing yesterday, <a href=\"http:\/\/almalnews.com\/Story\/364599\/16\/%D8%AA%D8%B9%D8%B1%D9%81-%D8%B9%D9%84%D9%89-%D8%B4%D8%B1%D9%88%D8%B7-%D8%A7%D9%84%D8%AA%D8%B5%D8%A7%D9%84%D8%AD-%D9%81%D9%8A-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%AA%D8%B9%D8%A7%D9%85%D9%84-%D9%85%D8%B9-%D8%A7%D9%84%D9%85%D8%A8%D8%A7%D9%86%D9%8A-%D8%A7%D9%84%D9%85%D8%AE%D8%A7%D9%84%D9%81%D8%A9-\">the newspaper adds<\/a>. The legislation \u2014 which is currently pending the Council of State\u2019s sign-off to go to a plenary session \u2014 focuses on facilitating the process of issuing building permits by cutting down the time for obtaining a license to 30 days and allowing some engineering consultancy offices to issue them. It also tightens safety codes and ensures that the law is better enforced through a new supreme council for urban planning and development that will be mandated with setting nationwide policy.<\/p>\n<p><strong>The Unified Building Code will be issued alongside another law that specifically tackles building code violations<\/strong>, Housing Committee member Khaled Abdel Aziz Fahmy said. The law would have a temporary mandate of around eight months, during which authorities will tally and resolve disputes over building code violations that satisfy six conditions, such as meeting certain criteria for architectural integrity, he explained.<\/p>\n<p>In other legislative news, President Abdel Fattah El Sisi issued a decree on Sunday that grants the <strong>Trade and Industry Minister the right to set extensions and deadlines for importers to comply with amendments to the Imports Registry Act<\/strong>, <a href=\"https:\/\/alborsanews.com\/2018\/02\/11\/1083974\">Al Borsa reports<\/a>.<\/p>\n<p>Finally: <strong>Amendments to the Companies Act executive regulations came into effect yesterday<\/strong>, after being published in the Official Gazette, <a href=\"http:\/\/www.youm7.com\/story\/2018\/2\/11\/%D8%A7%D9%84%D9%88%D9%82%D8%A7%D8%A6%D8%B9-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D9%86%D8%B4%D8%B1-%D9%82%D8%B1%D8%A7%D8%B1-%D9%88%D8%B2%D9%8A%D8%B1%D8%A9-%D8%A7%D9%84%D8%A7%D8%B3%D8%AA%D8%AB%D9%85%D8%A7%D8%B1-%D8%A8%D8%AA%D8%B9%D8%AF%D9%8A%D9%84-%D9%84%D8%A7%D8%A6%D8%AD%D8%A9-%D9%82%D8%A7%D9%86%D9%88%D9%86-%D8%A7%D9%84%D8%B4%D8%B1%D9%83%D8%A7%D8%AA\/3645165\">Youm7 says<\/a>. The Investment Ministry had <a href=\"https:\/\/enterprise.press\/stories\/2018\/02\/11\/investment-ministry-issues-amendments-to-companies-act-regs\/\">issued the changes on Friday<\/a>. Key features include banning companies from holding onto treasury stocks for over a year and limiting share buybacks to 10% of a company\u2019s shares.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>LEGISLATION WATCH- Privatization of railways gets preliminary nod from Parliament: The House of Representatives gave its preliminary sign-off on amendments to the Railway Act on Sunday that would open up the sector to private companies, Al Masry Al Youm reports. The amendments will allow businesses to build and operate railway lines and to bid for [&hellip;]<\/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-632467","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"d2be7c2b-f61d-408f-8d6e-7154dcee236d","order":"0","is_powered_by":true,"section_story_id":"8097541d-6bc4-4efd-b065-ad770fff1b69","story_type":"1","photo_url":"","photo_position":"above","related_issue":[632458],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Privatizing railways gets preliminary nod from Parliament - 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\/2018\/02\/12\/privatizing-railways-gets-preliminary-nod-from-parliament\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Privatizing railways gets preliminary nod from Parliament\" \/>\n<meta property=\"og:description\" content=\"LEGISLATION WATCH- Privatization of railways gets preliminary nod from Parliament: The House of Representatives gave its preliminary sign-off on amendments to the Railway Act on Sunday that would open up the sector to private companies, Al Masry Al Youm reports. The amendments will allow businesses to build and operate railway lines and to bid for [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/12\/privatizing-railways-gets-preliminary-nod-from-parliament\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-12T04:14:49+00:00\" \/>\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=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/12\/privatizing-railways-gets-preliminary-nod-from-parliament\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/12\/privatizing-railways-gets-preliminary-nod-from-parliament\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Privatizing railways gets preliminary nod from Parliament\",\"datePublished\":\"2018-02-12T04:14:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/12\/privatizing-railways-gets-preliminary-nod-from-parliament\/\"},\"wordCount\":559,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/12\/privatizing-railways-gets-preliminary-nod-from-parliament\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/02\/12\/privatizing-railways-gets-preliminary-nod-from-parliament\/\",\"name\":\"Privatizing railways gets preliminary nod from Parliament - 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He expects the legislation, which the Council\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":630895,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/05\/house-of-representatives-approves-railway-act-amendments\/","url_meta":{"origin":632467,"position":1},"title":"House of Representatives approves Railway Act amendments","author":"enterpriseam admin","date":"5 March 2018","format":false,"excerpt":"LEGISLATION WATCH- Parliament approves private sector participation in railway sector development: The House of Representatives approved yesterday amendments to the Railway Act that would allow private sector participation in developing, managing, and operating railway projects, Ahram Gate reports. Under the law, private companies will be required to compete in public\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":574792,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/22\/world-bank-mulls-financing-part-of-usd-640-mn-railway-upgrade\/","url_meta":{"origin":632467,"position":2},"title":"World Bank mulls financing part of USD 640 mn railway upgrade","author":"enterpriseam admin","date":"22 September 2020","format":false,"excerpt":"DEBT WATCH- World Bank mulls financing part of USD 640 mn railway upgrade: The World Bank is studying a loan to the government to partially fund a USD 641.2 mn project to improve safety provisions on the railway line connecting Alexandria to Upper Egypt, the local press reports. The proceeds\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/9\/237.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":630843,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/customs-act-regs-ready-to-be-issued-as-soon-as-law-is-passed\/","url_meta":{"origin":632467,"position":3},"title":"Customs Act regs ready to be issued as soon as law is passed","author":"enterpriseam admin","date":"4 March 2018","format":false,"excerpt":"LEGISLATION WATCH- The executive regulations of the new Customs Act have been drafted and are ready to be issued as soon as the law passed, Customs Authority head Magdy Abdel Aziz said, Youm7 reports. The law, which received approval from the Ismail Cabinet in early February, would slash customs duties\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":631102,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/11\/transportation-ministry-is-kicking-off-railway-privatization\/","url_meta":{"origin":632467,"position":4},"title":"Transportation Ministry is kicking off railway privatization","author":"enterpriseam admin","date":"11 March 2018","format":false,"excerpt":"Transportation Ministry to kick off privatization of railway system: The Transportation Ministry is reportedly about to begin privatizing Egypt\u2019s railways and divvying up railway assets for the private sector to manage, ministry sources tell Al Borsa. The ministry will establish companies to manage each railway and these will be run\u2026","rel":"","context":"In &quot;Speed Round&quot;","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":634143,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/08\/house-transportation-committee-approves-amendments-allowing-private-sector-participation-in-national-rail-system\/","url_meta":{"origin":632467,"position":5},"title":"House Transportation Committee approves amendments allowing private sector participation in national rail system","author":"enterpriseam admin","date":"8 January 2018","format":false,"excerpt":"LEGISLATION WATCH- The House Transportation Committee approved on Thursday amendments that, if passed by the House as a whole, would allow private sector participation in building, management, and maintenance of the national rail system, Al Borsa reports. The amendments to the law regulating the National Railways Authority have been referred\u2026","rel":"","context":"In &quot;Speed Round&quot;","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\/632467","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=632467"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/632467\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/632458"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=632467"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=632467"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=632467"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=632467"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=632467"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}