19 February 2019 01:42 PM

Cabinet reviews measures to transform military production ministry into industrial edifice

Saturday، 19 May 2018 - 10:21 AM

The cabinet reviewed the measures taken to transform the Ministry of Military Production into an industrial edifice that could play a role in achieving sustainable development and implementing mega projects.

The meeting also tackled efforts exerted to support the Egyptian industrial sector and increase local components in the Egyptian products.

Speaking at the meeting to review performance of his ministry's performance over the past period, Minister of Military Production Mohamed el Assar said total revenues of his ministry increased from EGP 4.2 billion in 2014/2015 to hit EGP 8.9 million in 2016/2017.

Meanwhile, Finance Minister Amr el Garhy said that Egypt’s credit rating was raised from (B-) to (B) by Standard and Poor’s, reflecting good performance of the Egyptian economy.

For her part, Social Solidarity Minister Ghada Wali reviewed coordination between her ministry and NGOs to distribute food packages to the needy people in the holy fasting month of Ramadan.

About 3.780 million packs have been handed over to the poor and needy families nationwide so far, she noted.

MENA

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