Egyptian military formed Pharmaceutical company

The Egyptian military has finally enter into Pharma business to finally conquer the  last frontier. The Egyptian government issued license to the National Agency for Military Production to establish Egyptian National Company for Pharmaceuticals. The Egyptian military is heavily involved in the industries and business and often criticised for running commercial and industrial activities. The Egyptian military owns one of the largest industrial and business complex in the country. The military produces everything from packed food to bottled water.

But military backed president Abdul Fatah AlSisi denied the major involvement of the military in economic activities and declare it propaganda. He insisted that the military accounted only for two percent of country's out put. It is wrong to assume that fifty percent (50%) of the out put is controlled by the military. Its just a mere propaganda.

Egypt is facing serious economic hardship and crisis. The Egyptian currency has lost half of its value. The industries are facing the shortage of dollars to import raw materials. The key allies of the present military dominated government likes of Saudi Arabia and UAE has already reduced the financial assistance to Egypt significantly. The Saudi regime also stopped to provide cheaper oil to Egypt.

The Egyptian military is dominating the country since 1950s and ruled Egypt directly indirectly since then. President Fatah Alsisi came to power after toppling the government of President Morsi of Brotherhood in a military coup. General Alsisi was the army chief at the time and later became president with the backing of the military.