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• 1.470 Billion EGP. paid for the new Supply Commodities System and 500 million EGP. paid for Bread System .

• 295 Million EGP. for the Holding Comp...

[/MOFGallerySource/Arabic/pics/ministerPic6.jpg] • 1.470 Billion EGP. paid for the new Supply Commodities System and 500 million EGP. paid for Bread System . • 295 Million EGP. for the Holding Company for Spinning, Textile and Cotton to bridge the wages gap in its affiliated companies and to support the purchase of cotton crop in 2013/2014 . Minister of Finance, Mr. HanyKadryDimian approved the allocation of 3.9 Billion EGP. as cash flow and government guarantees to several public entities within the government’s efforts to assure the provision of supply commodities and supporting textile industry sector. The allocations approved by the Minister include government guarantees and cash flow provided to GASC, amounting 3.620 Billion EGP. , of which one Billion to support the new system of ration cards commodities for last July, and the amount of 470 Million EGP. for the additional subsidy of ration cards commodities in last Ramadan, 500 Million EGP. to pay the bakeries dues in the governorates that implanted the new bread system, and 1.650 Billion EGP. to finance importing 840 thousand tons of wheat to produce subsidized bread. The Minister also approved to allocate the amount of 181 Million EGP. to provide cash flows to bridge the employees’ wages gap of last July in the Holding Company for Spinning, Textile and Cotton affiliated companies, as well as the disbursement  of the second payment of the staff annual rewards in these companies. In addition, the Minister provided the amount of 78.4 Million EGP. to the Holding Company for the due subsidy against variations in local cotton prices in 2013/2014, that delivered to the spinning factories, as the total quantity delivered is 308 thousand quintals. (Ministry Of Finance)