{"id":647331,"date":"2017-05-08T03:41:45","date_gmt":"2017-05-08T03:41:45","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/08\/house-economics-committee-discusses-proposal-to-allocate-10-of-private-funds-income-to-subsidy-card-system\/"},"modified":"2017-05-08T03:41:45","modified_gmt":"2017-05-08T03:41:45","slug":"house-economics-committee-discusses-proposal-to-allocate-10-of-private-funds-income-to-subsidy-card-system","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/08\/house-economics-committee-discusses-proposal-to-allocate-10-of-private-funds-income-to-subsidy-card-system\/","title":{"rendered":"House Economics Committee discusses proposal to allocate 10% of private funds\u2019 income to subsidy card system"},"content":{"rendered":"

The House Economics Committee is discussing a proposal to allocate up to 10% of the state-controlled \u201cprivate funds\u201d (the government\u2019s semi-official slush fund) towards the country\u2019s subsidy card system, Al Shorouk reports<\/a>. The proposal, put forth by MP Mohamed Elsewedy, would also see 15% of these funds\u2019 surplus revenues directed towards closing the state\u2019s budget deficit. Private funds were initially formed to wean some government bodies off the Finance Ministry, but are criticized by some as being magnets for graft.<\/p>\n","protected":false},"excerpt":{"rendered":"

The House Economics Committee is discussing a proposal to allocate up to 10% of the state-controlled \u201cprivate funds\u201d (the government\u2019s semi-official slush fund) towards the country\u2019s subsidy card system, Al Shorouk reports. The proposal, put forth by MP Mohamed Elsewedy, would also see 15% of these funds\u2019 surplus revenues directed towards closing the state\u2019s budget […]<\/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":[9344],"tags":[72,2375],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-647331","post","type-post","status-publish","format-standard","hentry","category-legislation-policy","tag-enterpriseam","tag-legislation-policy","wpautop","entry"],"acf":{"mongo_id":"cbf00f02-2f6f-4f8f-a626-9e644651cf95","order":"0","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[647297],"teaser":"","voice_url":""},"yoast_head":"\nHouse Economics Committee discusses proposal to allocate 10% of private funds\u2019 income to subsidy card system - 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\/2017\/05\/08\/house-economics-committee-discusses-proposal-to-allocate-10-of-private-funds-income-to-subsidy-card-system\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"House Economics Committee discusses proposal to allocate 10% of private funds\u2019 income to subsidy card system\" \/>\n<meta property=\"og:description\" content=\"The House Economics Committee is discussing a proposal to allocate up to 10% of the state-controlled \u201cprivate funds\u201d (the government\u2019s semi-official slush fund) towards the country\u2019s subsidy card system, Al Shorouk reports. The proposal, put forth by MP Mohamed Elsewedy, would also see 15% of these funds\u2019 surplus revenues directed towards closing the state\u2019s budget […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/08\/house-economics-committee-discusses-proposal-to-allocate-10-of-private-funds-income-to-subsidy-card-system\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2017-05-08T03:41:45+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<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/08\/house-economics-committee-discusses-proposal-to-allocate-10-of-private-funds-income-to-subsidy-card-system\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/08\/house-economics-committee-discusses-proposal-to-allocate-10-of-private-funds-income-to-subsidy-card-system\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"House Economics Committee discusses proposal to allocate 10% of private funds\u2019 income to subsidy card system\",\"datePublished\":\"2017-05-08T03:41:45+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/08\/house-economics-committee-discusses-proposal-to-allocate-10-of-private-funds-income-to-subsidy-card-system\/\"},\"wordCount\":96,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"Legislation + Policy\"],\"articleSection\":[\"Legislation + Policy\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/08\/house-economics-committee-discusses-proposal-to-allocate-10-of-private-funds-income-to-subsidy-card-system\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2017\/05\/08\/house-economics-committee-discusses-proposal-to-allocate-10-of-private-funds-income-to-subsidy-card-system\/\",\"name\":\"House Economics Committee discusses proposal to allocate 10% of private funds\u2019 income to subsidy card system - 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MPs are hoping to allocate 80% of the funds\u2019 total assets \u2014 around EGP\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":651347,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/02\/09\/parliament-complaints-of-lack-of-cooperation-from-government-agencies-over-private-funds\/","url_meta":{"origin":647331,"position":1},"title":"Parliament complaints of lack of cooperation from government agencies over private funds","author":"enterpriseam admin","date":"9 February 2017","format":false,"excerpt":"Some government bodies have apparently been refusing to disclose the accounts on their private funds \u2014 which are not part of the budget and have gained the reputation for being slush funds \u2014 to the House of Representatives, parliamentary sources tell Al Borsa. The Finance Ministry was supposed to send\u2026","rel":"","context":"In "Egypt Politics + Economics"","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627870,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/13\/house-reps-are-drafting-a-law-to-punish-subsidy-fraud\/","url_meta":{"origin":647331,"position":2},"title":"House reps. are drafting a law to punish subsidy fraud","author":"enterpriseam admin","date":"13 June 2018","format":false,"excerpt":"A draft law proposal seeking to impose heavier fines and penalties for subsidy fraud will has been tabled for discussion by Parliament\u2019s Legislative Committee, Al Mal reports. The bill looks to impose jail sentences of at least six months and fines of between EGP 20,000-1 mn, according to Rep. Seliman\u2026","rel":"","context":"In "Legislation + Policy"","block_context":{"text":"Legislation + Policy","link":"https:\/\/enterpriseam.com\/egypt\/category\/legislation-policy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":640830,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/09\/05\/mps-looking-to-criminalize-fraudulently-receiving-subsidies\/","url_meta":{"origin":647331,"position":3},"title":"MPs looking to criminalize fraudulently receiving subsidies","author":"enterpriseam admin","date":"5 September 2017","format":false,"excerpt":"The House of Representatives will look into drafting legislation to criminalize subsidy fraud during its third session once it receives the updated database of subsidy recipients from the Military Production Ministry, Budget Committee member Yasser Omar said, Al Borsa reports. According to committee members, the laws that currently govern the\u2026","rel":"","context":"In "Egypt Politics + Economics"","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":623271,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/10\/25\/house-reps-want-to-amend-regs-governing-sports-investments\/","url_meta":{"origin":647331,"position":4},"title":"House reps. want to amend regs governing sports investments","author":"enterpriseam admin","date":"25 October 2018","format":false,"excerpt":"LEGISLATION WATCH- MPs to meet with Finance Minister to discuss regulation of slush funds: The House of Representatives\u2019 Economics Committee is expecting to meet with Finance Minister Mohamed Maait soon to resume discussions on the regulation of ministerial \u201cprivate accounts\u201d, Rep. 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