Nile Cotton Ginning is the main beneficiary of the new Dispute Settlement Law

Economy and stock exchange

Mr. Abd El-Aleem El-Saifi, Chairman of Nile Cotton Ginning Company, praised the new dispute settlement law to solve the problems of companies returning from privatization such as Nile Cotton Ginning and other companies, considering it an important step to support investment in Egypt.

He said that the law will be approved after the approval of the President of the Republic and published in the Egyptian facts, pointing out that the company will begin to take advantage of the law, especially since it was agreed initially with the government to pay 10% of the differences in land prices that will turn From industrial to residential versus the end of the company's problem.

"We will also seek to re-trade the stock, increase the capital of the company and get all the shareholders to their rights," he added.

On the company's continued stock exchange, he said it was premature.

The companies that will benefit from the law are steam boilers, Simo Paper, Tanta Linen and Omar Effendi.

The Parliament agreed that, without prejudice to the provisions of Article 52 of the Law of the Council of State promulgated by Law No. 47 of 1972, the Prime Minister may, at the request of the competent Minister or the concerned parties, refer to any of the two committees provided for in Articles (85 and 88) The Investment Law promulgated by Law No. 72 of 2017 Any of the applications concerning how to implement the final judgments issued in respect of some of the companies in which the State or other public legal persons, holding companies or public sector banks have exercised their capital in proportion thereof, To cancel or invalidate such conduct.

(t) The Law of Dispute Resolution (t) The House of Representatives (t) Economy (t) Economy (t) The Stock Exchange (t) The Stock Exchange