EgyWorkers from companies that were privatized under Mubarak’s regime staged a protest during their court case calling to return these companies back to the public sector. I spoke mostly with workers from Ghazl Shebin, where 1000s of jobs were lost their jobs and 1000s of money stolen in this corrupted privatization process. The workers are demanding all companies to be nationalized since contract conditions were violated. The case was postponed to September 11th.
About Ghazl Shebin Textile Company
Ghazl Shebin textile company was privatized under the authority of the ex-minister of investment Mahmoud Mohieldin in 2006 to Indorama Corporation, for 122| million EGP. This Textile company of 5700 workers used to be one of the leading exporting textile factories to Europe with net profit of 9 million EGP in 2005-2006 alone, and the main competitor to Indorama Corporation. With the help of Nazif’s cabinet including Youssef Bourtros Ghali (ex-finance minister), Osman Mohamed Osman (ex-economy development minister), Rashid Mohamed Rashid (ex- business & industry minister), Farouk Okda (ex- head of central bank), and Esha Abdel Hady (ex-labor force minister), the factory now has 1200 workers.
The working conditions have deteriorated tremendously in addition to the thousands of workers that were laid off with no compensation. Some of the workers that have been hired back are hired under very strict contracts, where they are fired every year for 2 months and hired back so the employer can avoid paying pensions & benefits to the workers.
The amount of corruption that goes into this so called “privatization” process is unacceptable. Privatization here literally means the stealing of the hard-working Egyptian workers’ money. What “privatization” good will it do to the people who don’t have jobs and those who are being deliberately exploited for the money-hungry businessmen & politicians? A7aaaa!