55 Days
Source:
المصري اليوم
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Mervat El-Telawy Discusses Insurance Funds
Dr. Mervat El Talawy, former Minister of Social Insurance and Social Affairs, revealed that funds from social insurance funds were used to finance government projects such as the Media Production City and the Toshka Project, without generating direct returns for retirees. She explained that these funds were treated as "ownerless funds," and she insisted on including in the constitution a clause stating that social insurance funds are allocated specifically for the beneficiaries and are not public funds. This was aimed at ensuring their investment in a way that would generate profits benefiting retirees. El Talawy confirmed that some ministers demanded funding for projects through the National Investment Bank without providing direct benefits to pensioners. She expressed her preference for directing these funds toward acquiring successful companies to ensure sustainable returns, rather than investing in the stock market, in order to protect the rights of retirees. She also pointed out that neither the Toshka Project nor the Media Production City yielded returns that impacted retirees, emphasizing that safeguarding the funds of social insurance was a priority throughout her tenure.
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