This is part of the structural reforms that aim to improve governance, transparency, and sustainable development in state-owned assets. He added that the new agency is a unified organization that will take over the rights and obligations of the General Administration of Recovered Funds, the Central Administration for Agrarian Reform Resources and Compensations, and the Custodial Liquidation Agency. This will ensure the best use of state-owned assets and resources, increase the return on them, and manage and dispose of them properly. He said that a committee will be formed, led by the Minister of Finance and including representatives of some ministries, various state agencies, and economic and financial experts, to run this new agency. The Ministry also stressed that this new agency will manage public funds and may be subject to administrative seizure to exercise its rights.

Source: Daily News Egypt February 22, 2024 21:10 UTC