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Mervat El Talawi: Govt rejected my plan to buy companies for pension funds
The article included statements by Ambassador Mervat El-Talawy, Chairwoman of the National Council for Women, regarding the rejection by Dr. Kamel El-Ganzouri's government—when he was Prime Minister—of her plan to invest pension funds by purchasing shares in major companies such as Mobinil, Ezz Steel, and Aluminum. El-Talawy emphasized that this move would have increased pension returns and improved the living standards of thirty million citizens but was met with government opposition. She explained that at the time, the concept of pension funds was considered to be government money, which allowed it to be withdrawn to finance large projects without direct benefits to the pension fund. She now calls for the adoption of a constitution that guarantees pension funds as private assets, allows their investment in successful projects, and ensures that all returns are fully directed to benefit pensioners.
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