The Cabinet denied media reports circulated on some websites and social media pages that the government plans to establish a fund affiliated to the Suez Canal Authority as a cover for selling the Suez Canal.
In a statement released on Tuesday 20/12/2022, the Cabinet’s media center contacted the SCA, which categorically dismissed such reports as baseless.
The SCA stressed the waterway will remain as a state-owned asset, saying the aim of establishing this fund is to increase the authority’s contribution to the sustainable economic development.
It noted the fund will enable the authority to deal with crises and emergencies that could emerge as a result of any exceptional circumstances or poor economic conditions.
The SCA underlined all accounts of the fund are subject to the Accountability State Authority’s oversight.
It appealed to citizens to turn a deaf ear to such false news and seek information from reliable sources.
Source: State Information Service Egypt