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Reuters
Several parties in Egypt took urgent action after the liquidation of the Iron and Steel Company, one of the companies in the Sector of the Ministry of Public Enterprises, which was established in 1954 during the Gamal Abdel Nasser era.
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The head of the Private Sector Workers’ Union, Shaaban Khalifa, asked the government to issue a statement explaining the decision of the Extraordinary General Assembly of the Egyptian Iron and Steel Company to liquidate the company.
Khalifa confirmed, in a statement, that this decision will have negative effects, especially on middle class owners, in light of current economic conditions, and on 7,500 workers and their families, indicating that the General Assembly chose liquidation as a solution. easier without finding an alternative solution outside of the fund to get the company out of Losses are exhausted, as the total losses amounted to about 9 billion Egyptian pounds, and it was possible to discuss other solutions, such as the partnership with the private sector or the concession of facilities to the company in the field of exports.
Khalifa asked the Prime Minister to assign the competent authorities to “investigate who caused the losses of the old company, discover the reasons that led the company to reach this level, and present it to the Judiciary”, indicating the need to clarify the position of 7,500 national workers, trained, trained and educated who work in it, and emphasize the interest of the government for their legitimate legal rights.
For his part, the Egyptian lawyer Samir Sabry filed an urgent claim before the Administrative Court against the Prime Minister, the Minister of Commerce, the Chairman of the Board of Directors of the Egyptian Iron and Steel Company and the legal representative of the Holding Industries Metallurgical companies, “to stop the execution of the liquidation decision of the Egyptian Iron and Steel Company.”
Sabry said in his lawsuit that the Egyptian Iron and Steel Company witnessed many events and witnessed the industry that was established in 1954 by a decision of President Gamal Abdel Nasser, and that it “ owns huge untapped assets, including lands of up to 790 acres in company possession and a hand in the Tebbin region. In addition to 654 acres of location in the Bahariya Oasis, plus 54 acres purchased from the National Cement Company a year ago, and a 45,000-square-meter site in Aswan.
The lawsuit made clear that the liquidation decision would destroy this former industrial project and displace hundreds of workers.
Source: Al-Shorouk + Al-Masry Al-Youm
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