MPs withdraw state profit bills to weigh merger
Parliament withdrew two financial bills yesterday — one to channel a share of net profits from fully state-owned firms into the national budget and another amending Article 10 of the Budget Law — to merge them into a single measure.
MPs agreed to delay debate for two weeks after the Financial Committee's rapporteur made the request, following consultations with the council's legal adviser and Speaker Ahmed Al Musallam.
The first proposal would see all income from public authorities, government-run bodies, and stateowned companies funnelled straight into the state's general account.
That includes profits from the government's stakes in private businesses — after setting aside required reserves — without exemptions, no matter how big or small the shareholding.
Supporters stress this would make government finances easier to track by pulling all state asset earnings into the budget.
They argue it would also tighten oversight, ensuring the money is spent as Parliament intends.
Backers say the move would help boost government revenue.
If approved, it would channel profits from fully state-owned firms.
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