Egypt military warns against interference in its businesses

by
March 29, 2012

Egypt’s ruling military has warned against any interference in its murky economic empire amid a burgeoning power struggle with Islamists who control parliament, state media reported on Wednesday.

The warning comes as the military prepares to hand power to a civilian leader when presidential elections end in June, and as the dominant Islamist Freedom and Justice Party (FJP) pressures the generals to sack the government.

Major General Mahmud Nasr, a member of the ruling council, warned that the military “will not allow any interference from anyone in the armed forces’ economic projects,” the official MENA news agency reported.

In the unusually detailed defence of the military’s economic ventures, which include factories and hotels, Nasr said the businesses’ annual revenues were 1.2 billion Egyptian pounds ($198 million).

Nasr, who made the comments at a panel discussion on Tuesday, said the military’s enterprises were meant to allow the army to become self sufficient and complied with financial and tax regulations.

He also denied that the military, which dissidents suspect of angling to stay in power even after the planned transfer of power to civilian rule, was “a state within a state.”

Nasr said the businesses also compensate for the small percentage of the budget allotted to the military, adding the military receives only 4.2 percent rather than its “deserved” 15 percent of the budget.

The military, which amended its penal code last year to allow only military courts to investigate charges of corruption against officers, has said it wants the final say over any army related matters in a future constitution.

To read more, visit: http://ca.news.yahoo.com/egypt-military-warns-against-interference-businesses-164811330.html

No comments yet - you can be the first!

Leave a Reply

Your email address will not be published. Required fields are marked *

Keep the Fake News Media in check.

Don’t let the MSM censor your news as America becomes Great Again. Over 500,000 Americans receive our daily dose of life, liberty and pursuit of happiness along with Breaking News direct to their inbox—and you can too. Sign up to receive news and views from The 1776Coalition!

We know how important your privacy is and your information is SAFE with us. We’ll never sell
your email address and you can unsubscribe at any time directly from your inbox.
View our full privacy policy.