By: Ahmed Allam
Cairo – Mubasher: Egypt will pay the dues of the foreign companies in oil and gas sectors in three years, Amr El Garhy, the Minister of Finance, said.
El Garhy added on Monday that Egypt is keen on paying all its obligations for the outer world to keep these partners to inject new investments in the sector that has enormous opportunities for growth in the coming period.
Foreign companies' dues reached $3.6 billion by the end of September 2016, according to the Ministry of Petroleum, Tarek El Molla.
In November, the British embassy in Cairo said that the UK government conditioned the release of the international Monetary Fund (IMF) loan to Egypt to the clearance of its dues to international oil companies operating in the country.
Translated by: Sara Ghali
