What does the controversial bill on ‘selling the Suez Canal’ in Egypt mean ? ...Egypt

A great deal of controversy has arisen over the past few hours in Egypt regarding the proposal to establish the Suez Canal Authority Fund. This was announced by president Abdel Fattah al-Sisi at the economic conference held in October. Sisi said at the conference: “How can such a giant institution not have a financial solvency of 300 or 400 billion?” Sisi then instructed the establishment of the authority’s revenue fund, expecting the financial solvency for the Suez Canal Authority to reach LE300 or LE400 billion in four years. Speaker of the House of Representatives, Hanafy Gebaly, then referred a draft law submitted by the cabinet to a joint committee consisting of the House of Representat

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