CAIRO: The Ministry of Finance is discussing applying unified regulations to the public fund so as to promote sustainable development, grow the Egyptian economy and exchange experience with international bodies, Mubasher reported.
Minister of Finance Hani Kadry announced Thursday that the new regulations will positively make use of worker experiences, improve the financial administration for the State, assign new responsibilities and restructure the ministry. It will establish a “Bank of Ideas” to collect the proposals of experienced figures from inside and outside the ministry, Kadry said.
The project will also include automating and streamlining some elements of the financial sector to facilitate improved tax and revenue collection.
Farag Abdel Fattah, an economics professor at the Ministry of Higher Education, said the government should apply the “Bank of Ideas” idea to every ministry, but that it should be kept in “separate entities” to avoid dependency.
“This step will promote the ministries working together, activating societal responsibilities, allow benefits from exchanging experience and help achieve sustainable development,” Abdel Fattah told The Cairo Post.