Military Production Minister Discusses Budget Planning For FY 2025/2026
Date
1/29/2025 9:22:56 PM
(MENAFN- Daily News Egypt) Mohamed Salah El-Din, Egypt's Minister of State for Military Production, chaired Wednesday a meeting with the boards of directors of companies and affiliated units within the Ministry of Military Production, along with sector heads and advisors from the National Authority for Military Production. The main agenda item was the discussion of the general planning budget for the ministry's companies and affiliated units for the fiscal year (FY) 2025/2026.
The meeting also focused on the strategic plans for these companies and how to align them with the operational needs of each unit, in line with President Abdel Fattah El-Sisi's directives to promote public investments. The proposed budget for the coming fiscal year aims to increase revenue by expanding the production of both military and civilian equipment while contributing to national development projects across various sectors.
Minister Salah El-Din emphasized the global challenges currently impacting supply chains, which have affected project implementation in numerous countries. These disruptions highlight the importance of localizing modern technologies and increasing reliance on domestic products to reduce the import bill and save foreign currency. The Ministry of Military Production is committed to reinforcing Egypt's national economy by supporting these efforts and enhancing the country's industrial self-sufficiency.
During the meeting, the chairmen of the affiliated companies presented their budget proposals for FY 2025/2026, comparing them with the previous year's budget for FY 2024/2025 and reviewing the achievements made during FY 2023/2024. Key performance indicators, such as activity revenues, production totals, net sales, inventory levels, workforce figures, wages, raw material usage, and profits, were all reviewed in detail to assess the progress of the ministry's companies and units.
At the conclusion of the meeting, Minister Salah El-Din called for the continued development of production lines, investment in human resources, and improvement of performance standards. He emphasized the importance of achieving high quality, administrative reform, and maintaining cost efficiency. The Minister also highlighted the need to prioritize the localization of modern technologies and new product innovations. By focusing on these areas, the ministry aims to significantly boost its contributions to the national economy, ensuring that Egypt's military and industrial manufacturing sectors remain key pillars of the state's economic development.
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