The majority from the ruling National Democratic Party in the People’s Assembly voted yesterday against discussing three interpellations submitted by the Muslim Brotherhood bloc which accused the government of corruption and wasting public money.
Abbas Abdel Aziz, Farid Ismail and Azab Mustafa, who all belong to the Muslim Brotherhood, submitted three interpellations to the People’s Assembly stating that the Abu Tartour Phosphate Company and el-Maghara Coal Project have lost LE40 billion, while textile companies have lost LE22 billion. The interpellations also stated that debts owed by the electricity sector have hit LE16 billion, according to the Central Auditing Organization (CAO).
"I’m afraid the losses indicate a government policy that aims to sell these companies. In this case, the government would be ignoring all the procedures adopted to solve the problems faced by the companies over the past years, which is a waste of public money," said Abdel Aziz.
Abdel Aziz also criticized the government for neglecting the recommendations put forward by CAO regarding the management of el-Maghara Coal Project, whose losses reached LE1.5 billion.
The government could have used the coal and phosphate projects to achieve economic development, said Mostafa, however it mismanaged those projects. He added that equivalent projects in Australia make US$500 million in profit each year.
"The government lacks a good strategy and gives lessons in the mismanagement of state funds," Mostafa said
Mustafa presented a report by the CAO refuting allegations by the petroleum ministry that the phosphate project is making LE70 million in profits.
Minister of Petroleum Sameh Fahmi said that technical studies by some of the biggest experts in the field of geology have proven the feasibility of the project. The minister admitted, though, that the strategic planning for the project was sub-par.
Translated from the Arabic Edition.
