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Egypt's ruling generals defend their businesses

March 28, 2012 RSS Feed Print

He said the armed forces used its revenues to prop up the Egyptian economy in the post-uprising period, paying more than $2 billion to support the Central Bank, to pay salaries and support the police and various ministries.

Nasr said one of the armed forces holding companies, the National Service Project Organization, yielded about $1.3 billion in profits between 1990 and 2011, according to his comments in Al-Shorouk.

NSPO includes four main companies working in manufacturing of canned foods and drinks, the bottled water and olive oil company, an Optronics company and a chemical and agriculture products company.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Associated Press

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