Egyptian Parliament Committee Revises Law to Reorganize Future of Egypt Authority

The Planning and Budget Committee has discussed a government bill to reorganize the Future of Egypt for Sustainable Development Authority, introducing 30 amendments.

• The committee discussed the bill for 14 hours with the government, introducing 30 amendments to the proposed text.
• Committee head Mohamed Suleiman said the law subjects the authority to parliamentary and Central Auditing Organization oversight.
• Suleiman stated the authority will pay taxes and social insurance, with its operating surpluses going to the state treasury.
• Suleiman said the authority will not hold a monopoly and aims to encourage private sector investment.