Cairo: Prime Minister Dr Mostafa Madbouly held a meeting today to follow up on measures to improve the performance of state economic authorities, attended by Dr Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation; Mr Ahmed Al-Muslimani, Chairman of the National Media Authority; Dr Hussein Eissa, Head of the Technical Secretariat of the Committee for Reform and Restructuring of Economic Authorities; Mr Ashraf Negm, Vice-Chairman of the National Investment Bank; and Mr Taha Mohamed Mahmoud, Head of the Economic Sector at the National Media Authority.
According to State Information Service Egypt, the Prime Minister explained that there is a specialised committee for re-governing the state's economic authorities, namely the 'Committee for Reform and Restructuring of Economic Authorities'. The committee is tasked with studying the challenges facing each authority and the mechanisms for restructuring them, according to the assets and capabilities they possess that can contribute to the sustainability of their mandated roles.
Dr Madbouly added that this committee has already held several meetings, that a general inventory of the authorities has been completed, and that subsequent meetings will be held with the heads of the relevant authorities to draw up a clear roadmap for reform.
The Prime Minister stressed the importance and role of the National Media Authority in developing cultural and social awareness, spreading knowledge and enlightenment, contributing positively to shaping the national Egyptian character and strengthening belonging, and consolidating societal values and constants.
Madbouly also emphasised the need to keep pace with all modern developments in the media system, saying: 'We are ready to provide full support to restore this authority's leadership and standing.'
The Minister of Planning, Economic Development and International Cooperation reviewed the role of the Committee for Reform and Restructuring of Economic Authorities and the status of each authority, explaining that the committee is responsible for comprehensive structural reform of the economic authorities so as to make optimal use of state assets, achieve structural reform of these authorities and address many of the problems they face in order to raise their efficiency and increase their contribution to GDP - a government priority.
The Head of the Technical Secretariat of the Committee for Reform and Restructuring of Economic Authorities outlined the status of the authorities, explaining that after studying 59 authorities in the first phase, it was agreed in principle to retain 39 economic authorities, liquidate and dissolve four authorities, merge seven authorities into others, and convert nine authorities from economic authorities into public bodies for a number of reasons.
Dr Hussein Eissa said that agreement had already been reached on a number of important economic authorities that should be retained, but that their performance must be improved and they must be restructured, with plans in place to operate them and maximise their resources. He reviewed the assets the National Media Authority possesses that enable it to achieve financial sustainability. A number of proposals were also put forward to increase the authority's financial resources, with the Ministry of Finance having already submitted proposals to provide financial support to the authority.
Mr Ahmed Al-Muslimani reviewed a summary of measures taken recently, noting at the outset that there had been no company specifically for social media and that a company has now been contracted to undertake those activities. Preparations are also underway to launch a digital platform for Maspero, and Maspero's substantial reserves will be utilised.
The Chairman of the National Media Authority added that work is under way to reform the Voice of Cairo company and its advertising agency. Al-Muslimani explained the reform steps taken regarding the merging of some channels and the development measures for several other channels.
He said the National Media Authority is currently preparing a comprehensive development plan, to be presented at the end of January, covering restructuring and efficiency improvements.
The meeting also reviewed the status of unwinding the financial entanglements between Maspero and the National Investment Bank, contributing to resolving the issues that impede the reform process.