- Thursday, 27 July 2017
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Counselor/Rashida Fathallah-President of Administrative Prosecution Authority ordered to refer the following officials to immediate disciplinary trial.
Senior Financial Specialist at the Ministry of Transport.
Former Head of Operations and Budgets Sector at the Ministry of Transport.
The Administrative Prosecution conducted an investigation based on a memorandum prepared by APA’s Media and Information Center regarding what was published in Al Youm Al Sabea newspaper on 7/9/2016 under the headline “AlKahera Company for Ferries and Maritime Transport (KCFMT) an example for wasting public money”, as the article included that the losses of this company owned by the Egyptian Ports Authority affiliated to the Ministry of Transport exceed the amount of 7 Million EGP.
Investigations conducted by Counselor/Saad Khalil- Member of Headquarters Technical Bureau revealed that the two ferries (Al-Kahera Ferry and Al-Riad Ferry) owned by the Ministry of Transport according to the Decree no. 3304/2000 issued by the Prime Minister, where their operation and maintenance were assigned to KCFMT in return for paying a sum of 12000 Million EGP by the company to the Ministry of Transport in quarterly instalments, nevertheless the company failed to pay those sums of money.
The Prosecution ordered to form a committee from the Financial Inspection Central Administration at the Ministry of Finance, where it presented its report concluding the following violations:
KCFMT withheld paying its full dues to the Ministry of Transport an amount of 82.5 Million EGP registered in the accounting unit record regarding the period from 27/5/2009 to 26/5/2014 including administrative expenses, interest and delay fines.
The first accused signed a financial agreement on 8/7/2015 including deducting the expenses due to the Ministry of Transport and exempting KCFMT from paying its full dues to the Ministry of Transport despite the fact that he is incompetent to sign such agreement and did not obtain an authorization from the Minister of Transport.
The second accused addressed KCFMT and requested issuing a check with the same amount mentioned in the agreement, without the requesting the rest of the Ministry’s receivables or objecting on this illegal agreement.
The Prosecution concluded its aforementioned decision and ordered to officially notify the Minister of Transport as he is the President of the General Assembly of KCFMT to consider taking legal procedures against the Chairman and members of the company’s board of directors and decide whether to plan the liquidation and dissolution of the company and its board of directors or its continuation despite of its losses which exceeded more than half of its capital which is 40 Million EGP, as the committee’s report stated that the company’s debt is estimated to be around 82.5 Million EGP in addition to an amount of 24 Million EGP the cost of keeping the ferries in the company’s possession for two years after the end of the contract.
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