Minister of Business Sector: A new system for selecting leaders with competence and transparency

Hisham Tawfiq, Minister of the Public Sector Sector, met with the presidents of the general trade unions in the holding companies of the ministry, in the presence of Jibali Al Maraghi, Chairman of the General Federation of Egyptian Trade Unions.

He welcomed the heads of trade unions at the meeting held at their request.

The Minister affirmed his keenness to communicate with the heads of the general trade unions through periodic meetings during the coming period, pointing out their participation in the preparation of analytical studies of holding companies to identify the strengths, weaknesses, opportunities and challenges of the subsidiaries, The structure of the companies and the search for different alternatives to deal with them, directed to the need to activate the interaction of officials of subsidiaries with representatives of workers.

He also stressed the Ministry’s interest in rehabilitating the labor and protecting its rights. He also pointed to the start of training courses for cost accounting at all subsidiaries, as well as the application of a unified system for corporate resource planning, with the development of a new system for selecting corporate leaders in accordance with standards of efficiency and transparency.

Hisham Tawfiq reviewed the features of the amendments to the Public Business Sector Law No. 203 of 1991, which aims to promote the principles of governance and good governance, including disclosure and transparency, forming boards of directors in terms of diversity of expertise and organizing follow-up of joint companies. Soon to be discussed and approved before taking action referred to the House of Representatives.

The minister pointed to the field visits he has made in a number of companies recently, which will continue during the coming period to find out the conditions of companies on the ground and discuss the needs of development and communication with workers and not rely solely on reports and data.

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