Arab Today, arab today egyptian official reveals the exit of contracting companies from market
Last Updated : GMT 01:40:00
Arab Today, arab today
Arab Today, arab today

Blaming the government

Egyptian official reveals the exit of contracting companies from market

Arab Today, arab today

Arab Today, arab today Egyptian official reveals the exit of contracting companies from market

Chairperson Egyptian Federation of Construction and Building Contractors Hassan Abdel Aziz
Cairo - Safaa Abdel Qader

Chairperson Egyptian Federation of Construction and Building Contractors Hassan Abdel Aziz blamed the increasing prices of the building materials used in the projects for the exit of two thousand contracting companies from the market during 2016. He criticized the Egyptian authorities for the delay in the issuance of the law of spreads, saying that it would lead the exit of more companies during the coming period.
He added that the contracting sector faces a serious challenge due to the increasing prices and the recent decision to increase taxes. He added that the economic decision to liberate the exchange rate of the Egyptian currency performed a major role in the current economic problem. He stressed that the current crisis is similar to the crisis witnessed in 2003 when the government decided to take the decision to liberate the rate of exchange.
He stressed that the governmental decision led a large number of contracting companies to exit from the Egyptian market. He pointed out that the state should pay attention to local contracting companies, especially that the sector succeeded in acquiring 99% of the national, large and small projects and is able to expand in the Arab and African countries, which relies on 80% of foreign contracting companies in implementing projects.
He pointed out that contracting companies have suffered recently from some of the losses resulting from the differences in prices of raw materials after the liberalization of the exchange rate of the pound against foreign currencies, as a result of the timing of opening the technical envelope provided by the company; the timing of commencement of work in the project; That is the difference in the price of the dollar.
He explained that Article 55 of the Tenders and Auctions Law prevents the contractor from obtaining price differences within six months from the commencement of the project. He pointed out that they are in conflict with some articles of the law. He pointed to holding meetings with government agencies to reformulate them to comply with the law.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egyptian official reveals the exit of contracting companies from market Arab Today, arab today egyptian official reveals the exit of contracting companies from market

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today egyptian official reveals the exit of contracting companies from market Arab Today, arab today egyptian official reveals the exit of contracting companies from market

 



Arab Today, arab today
Arab Today, arab today Fashion designer reveals her new collection

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today Qatar denies blocking Saudi hajj pilgrimage flights

GMT 09:36 2017 Monday ,21 August

Qatar denies blocking Saudi hajj pilgrimage flights
Arab Today, arab today Egyptian artist presents new collection of designs

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs
Arab Today, arab today South Asia floods claim more than 750 lives

GMT 20:49 2017 Monday ,21 August

South Asia floods claim more than 750 lives
Arab Today, arab today For 'embarrassing' selfies with Mogherini

GMT 15:37 2017 Thursday ,10 August

For 'embarrassing' selfies with Mogherini
Arab Today, arab today Shrouk Ibrahim highlights attractiveness of women

GMT 15:34 2017 Friday ,11 August

Shrouk Ibrahim highlights attractiveness of women
Arab Today, arab today Brief tourism impact from Spain attacks

GMT 11:23 2017 Saturday ,19 August

Brief tourism impact from Spain attacks
Arab Today, arab today Nanis reveals simple ideas for home renovation

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation
Arab Today, arab today Suhair Jaradat expresses her anger

GMT 03:25 2017 Wednesday ,09 August

Suhair Jaradat expresses her anger
Arab Today, arab today Expert blames measures against the Gaza Strip

GMT 16:48 2017 Saturday ,12 August

Expert blames measures against the Gaza Strip
Arab Today, arab today Egyptian MP warns of unlicensed health centers

GMT 13:47 2017 Monday ,21 August

Egyptian MP warns of unlicensed health centers
Arab Today, arab today UAE nuclear programme edges toward 2018 launch

GMT 23:12 2017 Monday ,21 August

UAE nuclear programme edges toward 2018 launch
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today In probe of Fiat Chrysler, union

GMT 11:19 2017 Saturday ,19 August

In probe of Fiat Chrysler, union
Arab Today, arab today Youssra Al Lozy happy for her role in “Al-Halal”

GMT 10:33 2017 Saturday ,19 August

Youssra Al Lozy happy for her role in “Al-Halal”
Arab Today, arab today Mexico City fishermen fight

GMT 05:22 2017 Sunday ,20 August

Mexico City fishermen fight

GMT 12:18 2017 Friday ,18 August

Youssra prepares for new film with Zafer

GMT 08:54 2017 Thursday ,17 August

Rania Shawky happy for “Blood Series” success

GMT 03:43 2017 Wednesday ,16 August

Enas Al Deghidy promoted gender equality

GMT 17:35 2017 Monday ,14 August

Tunisia pushes for achieving gender equality

GMT 16:20 2017 Friday ,04 August

Rawda Al Mehy invents a new idea to design

GMT 16:17 2017 Sunday ,30 July

Engy explains secrets of Kafr Delhab

GMT 19:41 2017 Thursday ,17 August

Senegal's slave shipwreck detective

GMT 12:33 2017 Wednesday ,16 August

Kuwait reports second oil spill

GMT 14:44 2017 Monday ,29 May

Al-Jeddawi presents décor ideas for Ramadan

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?

GMT 16:13 2017 Friday ,18 August

Drug 'personalities' die in Philippines'

GMT 09:20 2017 Thursday ,17 August

Hokkaido makes it special

GMT 14:18 2017 Friday ,18 August

Quiet seaside resort of Cambrils emerges

GMT 09:07 2017 Thursday ,17 August

Ibiza struggles to house locals

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful

GMT 18:18 2017 Saturday ,22 July

Honor 9 smartphone coming soon to Kingdom

GMT 11:40 2017 Saturday ,29 July

Designer Mennatallah reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday