Cairo – Mubasher: Cotton & Textile Industries Holding Co. is set to repay EGP 4.9 billion to three government entities as part of the decree the state-owned companies must settle their debts.
The company will repay EGP 2.4 billion to the social insurance authority, EGP 1.4 billion in gas dues and EGP 1.1 billion in electricity dues, chairman Ahmed Mostafa told Al-Mal newspaper.
Earlier this week, a government official said that four holding companies affiliated to the business sector will begin offering assets for sale in a bit to repay their debts in the oil and electricity sectors, the newspaper added.
