The ministry of public business sector was reinstated to realize the optimal benefit and restructure state-owned assets to alleviate the burdens of the state budget, the premier said.
During a cabinet meeting on Thursday, Prime Minister Sherif Ismail said the government is aware of the responsibility it shoulders and will work on expediting the accomplishment of various projects.
The cabinet discussed the tasks assigned by President Abdel Fattah El Sisi to the new government.
Ismail said the government will adopt innovative ways for securing needed funds for projects, reducing budget deficit and increasing resources.
He said ministers will keep in touch with the media to transparently post people on the achievements realized and the challenges facing them.
On Wednesday, ten new ministers and four deputy ministers were sworn in before Sisi.