Cairo – Mubasher: Egypt's public business sector minister said the ministry’s subsidiaries have achieved EGP 11 billion ($626 million) in profits during the last fiscal year 2017/2018.
The ministry aims to double its profits this fiscal year, Hisham Tawfiq added in a call broadcast to Alhayah Alyoum talk show.
The number of employees in the public business sector reached around 215,000 people, Tawfiq highlighted.
He said that almost 48 companies have posted losses, while other 73 companies recorded profits.
He further noted that the sector has incurred a loss of EGP 7.5 billion in FY16/17, revealing a plan to generate EGP 3 billion in profits from the weaving and textile sector over the next years.
