Egypt sacks heads of silos company, internal trade development

September 18, 2016 4:19 AM EDT

Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.

CAIRO (Reuters) - Egypt's new supply minister has sacked the chairman of the Egyptian Holding Company for Silos and Storage and the head of the country's internal trade development agency, the official MENA news agency said on Sunday.

The minister, Major General Mohamed El-Sheikh, said the changes were intended to bring in new blood to develop and drive forward the ministry's companies and departments.

Sheikh was appointed earlier this month after his predecessor Khaled Hanafi stepped down under pressure from parliament, which has launched an investigation into allegations that millions of dollars intended to subsidize farmers were used to purchase more wheat on paper than was found in silos.

(Reporting by Mostafa Hashem, Writing by Lin Noueihed; Editing by Toby Chopra)



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In






Related Categories

Reuters

Add Your Comment