Egypt’s Trade Union Federation calls for overturning Iron and Steel Company liquidation

Egypt’s Trade Union Federation calls for overturning Iron and Steel Company liquidation

The Egyptian Trade Union Federation (ETUF) voiced on Tuesday its rejection to the decision of liquidating the Egyptian Iron and Steel Company (EISC), a week after the hotly debated resolution was passed officially by the company's board of directors.

In an official statement released following a meeting held earlier today, the ETUF called all concerned bodies to overturn the decision and form an experienced national committee to look into the step's ramifications.

The federation said it will address President Abdel-Fattah El-Sisi to intervene and salvage the company.

The ETUF said the company and other Egyptian business companies serve the process of development and the establishment of national mega projects in the country.

It also called for considering the studies of developing the 67-year-old company and increasing its production in a way that lives up with its history as a leading company in the Middle East.

The federation stressed the significance of preserving the technical and production assets of the company, including the oxygen plants that are being supplied to the health ministry to cope with the coronavirus pandemic.

The EISC has been one of the country's industrial icons since its establishment in 1954 and the start of its operations