Is there a motive behind the chair?19 Jan 2019 12:56
I wonder is there a move planned?
This article is dated Tuesday 1st January 2019
It hasn’t a lot of direction in it (this is way I have only translated a section) it points out that three members of the MRA are on centamins board.
Was it really so difficult to find a new chairman or is Josef El-Raghy, current Executive Chair, remaining for a specific reason? And if there is a reason will it be reviled through time?
Control bodies follow the work .. Mine money «sovereign» .. And profits go to the government directly
Barakat stressed that the investor did not receive any money that is not his right at all from the sugar mine. In addition, all prices of equipment, machinery and materials used in the operation of the mine imported from abroad are the lowest in the world.
He explained that «Sugar is tracking the procurement operations and compare them with international prices from major companies, and these prices are unparalleled in terms of decline, and this is done through the Pharaonic company, because it is skilled in mining work around the world, and can get discounts at all prices better than The prices of the sugar company or the body, if purchased alone, because pharaonic name and reputation.
He added: "No one can remove one barrel of scrap or any stock outside the mine without my knowledge, as the representative of the Egyptian government, and if that and came out one barrel, I am responsible for him and not Pharaonic, and there is more than one watchdog daily follow the work in the mine And each step by mining, bombing, research, samples, casting, equipment and workers, all recorded in official records signed by all officials and regulatory bodies, so it is difficult to steal one sand grain from the mine ».
Barakat revealed that all the benefits of sugar go directly to the state. There is no other person who can benefit personally from the mine because the sugar does not distribute profits to individuals, but all production and profits go directly to the government because the sugar money is sovereign money. It is forbidden to approach them.
https://www.dostor.org/2458168
He said that the Board of Directors of Sugar is composed of three members of the Mineral Resources Authority, including the Chairman of the Board Dr. Ali Barakat, as well as a member of the board of directors, Mohamed Mustafa, an economic and financial expert from the Authority, Dr. Joseph Al-Rajhi, and Joseph Al-Rajhi, and the other foreigner from Sentinam in Australia. He pointed out that the role of the Chairman of the Board is to ensure the success of the company and to continue working in it and to safeguard the interests of both parties.
He said that the sugar mine sends many positive messages, the most important of which is that Egypt is a safe country, in addition to raising its name in the countries of the world, concluding that «if the sugar mine is supported by the government and interest will continue another 300 years in production
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