During the ceremony, the president urged carrying out good pricing, management, and governance of revamped public enterprise factories so they would not deteriorate again. He underscored that one of the repercussions of the mismanagement of state-owned factories is overstaffing due to nepotism. In that regard, President Sisi stressed that to ensure that such practice would be eradicated is partnering up with the private sector. Minister of Public Enterprise Hisham Tawfik stated that the new factory saves 150 megawatts compared to the old one. Discussing the textile industry, the public enterprise minister revealed that Egyptian cotton will be traded through an exchange starting 2022.

Source: Egypt Today December 28, 2021 21:01 UTC