Cairo – Mubasher: Egypt’s Cabinet on Wednesday approved a draft legislation to establish an Egyptian space agency.
This draft will be referred to the parliament for final approval, according to a statement.
The new law will aim for enhancing space technology to build and launch satellites in Egypt, in order to serve development objectives, the Cabinet added.
Moreover, the Cabinet approved the presidential law of allocating a government-owned land in Qena for National Authority for Potable Water and Sewage to establish a wastewater treatment plant.
The Cabinet also assigned the prime minister Sherif Ismail to review the proposed reshuffle of the Supreme Council of Ports.
Ismail furthermore agreed on the Egyptian Electricity Holding company’s request for transferring the assets and liabilities of its urgent plan to its subsidiaries according to the geographical location of each firm.
The Cabinet also agreed on raising the Export Development Bank of Egypt’s (EBE) authorised capital to EGP 5 billion from EGP 2 billion in accordance with the Central Bank of Egypt’s (CBE) requirements and the EBE’s strategic plan.
