The Public Prosecution has signed a cooperation protocol with the Ministry of Finance, represented by the Authority for the Management and Disposal of Recovered and Seized Assets and the General Authority for Government Services, as well as the National Bank of Egypt and Banque Misr, to accelerate the disposal of confiscated vehicles through a transparent and well-governed public auction system.

 

The protocol aims to strengthen the governance of auction procedures to maximize state revenues, enhance oversight measures to ensure transparency and safeguard public funds, and prevent the re-accumulation of confiscated vehicles at impound yards.

 

Dr. Mohamed Soliman Qoura, Executive Director of the Authority for the Management and Disposal of Recovered and Seized Assets, expressed his appreciation for the Public Prosecution's efforts to maximize the value of underutilized assets, channel their proceeds to the state treasury, and safeguard citizens' rights.

 

He said the protocol is designed to secure the best possible market value for confiscated vehicles while clearing impound yards across the governorates. He added that ending the accumulation of vehicles will enable the land currently occupied by these facilities to be returned to the Ministries of Local Development and Housing for redevelopment and productive use.

 

Qoura also announced that the clearance of vehicle impound yards will begin shortly, with the first public auctions scheduled to be launched in July.

 

Mohamed Adel, Chairman of the General Authority for Government Services, said the confiscated vehicles will be offered for sale through public auctions, noting that the authority aims to increase the number of cars and motorcycles offered during auction sessions.

 

He added that auction booklets and payments for purchased vehicles will be available through the branches of the National Bank of Egypt and Banque Misr. Specialized committees will also be formed to ensure the prompt delivery of vehicles to successful bidders upon full payment.