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اليوم السابع
Egypt Chemicals Reports Idle Funds and Losses
The Central Auditing Agency's report revealed financial and administrative observations regarding Egypt Fertilizer Company for the year 2026. The issues highlighted include ongoing projects, export sales, taxes, credit losses, currency fluctuations, and asset exploitation. Notably, there are unclear monetary amounts related to the ERP project initiated in 2020, financial discrepancies in export documents, some customers not registering injections accurately, unsupported tax payments, significant losses from the chlorine gas product, dormant balances and perished inventory, investments that have yielded little to no return for over two years, and underutilization of production capacities. The findings point to the need for auditing resource utilization, addressing losses, improving asset management, and ensuring transparency in export and tax operations to enhance the company's financial and administrative performance.
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