Finance: dissolving the quadruple financial entanglements between government agencies, electricity, water and petroleum

Paying electricity and water dues with the budget agencies ... before the end of June

 

7.6 billion pounds from the "treasury" to "oil", deducted from the "electricity" debt

 

Dr. Mohamed Maait, Minister of Finance, confirmed that, in implementation of the presidential directives, the quadruple financial entanglements between the budgetary government agencies, the Holding Company for Electricity, the Holding Company for Drinking Water and Wastewater, and the General Petroleum Corporation, by agreeing to pay the dues of the electricity, drinking water and sanitation companies to the agency The state administration, local administration units and service bodies centrally, so that the state treasury transfers the value of these receivables directly to the General Petroleum Corporation as a deduction from the debts of the Holding Electricity Company. In a way that enables these entities to fulfill their duties and obligations, in a manner that guarantees the achievement of the public interest.

 

The minister added that, as of the beginning of the current fiscal year, a "commitment record" was made on the financial appropriations established for the items of lighting, electricity, water and sanitation, listed in the budgets of the state's administrative apparatus, local administration units, and service bodies; So that the Ministry of Finance shall pay the dues of the electricity and water companies to the budget agencies centrally, in light of the approvals received from these companies and approved by the budgetary authorities.

 

He said that the value of the dues of the Holding Company for Electricity and the Holding Company for Drinking Water and Sanitation will be paid to the budget bodies centrally, and 2 billion pounds have already been transferred directly to the General Petroleum Corporation as a deduction from the debts of the Holding Company for Electricity in it, and before the end of next June, 5.6 billion pounds will be transferred Other, in light of the agreement to dissolve financial entanglements signed between these parties, in line with the efforts made to end any financial entanglements between the government agencies (debtor and creditors), in a manner that helps establish the foundations of financial discipline and is reflected in the achievement of financial targets.

 

A statement by the Ministry of Finance stated that there is a careful review of the approvals received from the electricity and water companies approved by the budget authorities, and comparing them with the actual consumption bills, pointing to the commitment of the economic bodies and units, units of a special nature, funds and special accounts, and all other entities to pay the value of their consumption directly to the electricity and water companies Through their own budgets.