Lieutenant General Osama, the spring of the Suez Canal Authority, in the press conference he is holding now to shed light on the harvest of 2022 and the most prominent achievements of the authority, cited an old video of President Abdel Fattah El-Sisi, when he was talking about the draft law of the Suez Canal Authority Fund.

President El-Sisi said in the video: “The authority used to direct its income to the general budget (Ministry of Finance) only, explaining that he had asked the head of the Suez Canal Economic Authority what funds the authority owned at that time, and he replied: “No.”

He added, "I told him how a giant institution like this could not have a financial solvency of 300 or 400 billion," explaining that he had informed the head of the authority to establish the authority's revenue fund while working on its development, and not to spend anything except by returning to it, i.e. to the president.

Counselor Hanafi al-Jabali, Speaker of the Council, referred to some clarifications regarding what was raised in various media outlets or on social networking sites, about the House of Representatives discussing a draft law submitted by the government to amend some provisions of Law No. 30 of 1975 by the Suez Canal Authority, which involves the establishment of a fund Affiliated to the Suez Canal Authority.

Lieutenant General Osama Rabie said during the conference: “What is included in the draft law is the right of the fund to be established to sell, buy, rent or exploit its fixed or movable assets. Indirectly, the Suez Canal, because the term assets cannot be used in any way - to the canal itself, as it is, as we mentioned, public money that cannot be neglected.

And he continued: I address my speech to the great people of Egypt. The House of Representatives, to whom you placed your trust, has not and will not drift into issuing laws that affect the provisions of the constitution that expresses the conscience of the nation. And he does his utmost to scrutinize bills to ensure that, once approved, they reach the interest of the country and the citizen.