January 15, 2022

New measures to maximize the assets of administrative authorities: Minister of Finance

Finance Minister Mohamed Maait said on Sunday that further steps have been taken by the General Authority for Public Services. Their objective is to maximize the use of buildings and land owned and leased by the administrative authorities.

The stage intervenes in the implementation of presidential directives to properly manage State property and ensure optimal use of public resources.

He added that a central electronic database will be established within the General Authority of Government Services, which includes the buildings and land owned, leased and ceded in the past five years within the administrative authorities in order to strengthen governance and ensure optimal use of State resources. This is in line with the vision of the State and its policies for economic and administrative reform, with the necessary planning of resources and good management of assets.

Maged Younis, head of the General Authority for Government Services, said the administrative authorities have been tasked with preparing an electronic database for all real estate owned by them, what has been transferred, the method of transfer, the value and other relevant data. The authority is regularly informed of all the evidence emanating from these authorities to be proved in the central database of the General State Services Authority.

The authority asked the authorities concerned by the provisions of the law regulating contracts concluded by public authorities to complete the required data. This includes an inventory of buildings owned and leased, as well as land owned and leased over the past five years. Any update will be announced as soon as it occurs, in a manner consistent with efforts to maintain financial discipline.

He pointed out that the number of auctions held by the authority for customs administration and other government agencies and authorities has increased in the last fiscal year to reach 186, estimated at EGP 1.2 billion, against 145 auctions in FY 2019/20, with proceeds of EGP 1.184 billion, compared to around EGP 1.1 billion in FY 2018/19.

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