by Naglaa Ghonaim
Rashad Refaie: 10 million pounds profit in the last fiscal year, and reducing the accumulated losses up to 258 million. Misr travel president: major investor for the development of company-owned tourism projects.
And stimulate tourism programmes to Taba, Luxor, Aswan of thousands of young people to take part in the “know your country” programme within “Egypt in our hearts” initiative.
Misr Travel is a National Company for Tourism, founded by Talaat Harb in 1934 one of the oldest companies in Egypt and the Middle East, an ancient name in the world of tourism has seen a number of activities over the years, but like the rest of economic patriotism companies hit by huge financial losses followed by January 2011 events amounted to 300 million pounds until the year last in 2014, the National Company for Tourism is in the early stages of recovery from the past fiscal year 2014/2015 it began to drop its losses to 258 million pounds following by the implementation of austerity fiscal policies which closed a number of overseas offices of the company, about the company’s policies and its future came our meeting with Rashad Rifai Chairman of the company, who confirmed ,That the company achieved the fiscal year ending financial profit in the first July for the financial year 2015/2016, worth 10 million pounds, explaining that for the first time the company achieved a profit since 2011 in which the financial losses started coming in on the company to up to 300 million pounds until last year. President of the company pointed out that it was a financial plan to end these losses and scheduling situation so far reached 258 million pounds. Thanks to the efforts and understanding of workers of the company plan to reduce its offices abroad and the pressure of financial expenditures. With a Commitment regardless of financial receivables for four thousand employees at a cost of 11 million pounds of annual wages.
Refaie said there was an internal touristic programmes for some tourisms cities where suffer from extremely low operating plans, explaining that, in response to the directives of President Abdel Fattah El-Sisi to activate internal tourism programmes in Taba, Luxor and Aswan where launched by Misr Travel Company a “Know Your Country” programme, which includes visits for groups of young people to the provinces and cities and provide training on tourism marketing to stimulate domestic tourism movement in Egypt which comes as part of the continuation of the activity of “Egypt’s initiative in our hearts.”
Rafaie noted that the implementation of the programme was to travel first group to Taba of 500 young men and women. In addition to two groups of 500 to Hurghada, also organising a trip to Luxor next August of 1,000 young men and women.
Rashad Refaie head Of Misr travel said he has signed a cooperation protocol with Ganzouri Hospital in the field of medical tourism, which agreed was with one of the companies in both Nigeria and Iraq, in order to activate the company’s plan to revitalize the tourism treatment programmes in Egypt.
And for the difficulties of security circumstances to bring specific nationalities, president of the company confirmed that as agreed with the Ministry of Tourism the company’s full responsibility for bringing them for treatment and tourism in Egypt and determined travel dates, according to specific programmes.
As for managing tourism companies owned to individuals belonging to the Brotherhood, which was given its management to Misr travel recently after the issuance of the decision of the reservation on their money, which was issued early June, in order to dry up the sources financing of terrorist operations, Rashad Refai confirmed the supervision of the 5 companies and 3 branches of them he delegates a financial manager and a commercial sales To ensure the financial paths for all income as it is placed in the company’s bank accounts, and make sure that no other disbursements in non-operating expenses items, and these companies are the Asehab Tours, candles, Virginia and Solar Empire and VIP company.
Rashad Rifai pointed out that the most important thing was discovered when supervising the five companies and its three branches that these companies were handling all financial treatments on cash away from the banks.
He added that he works on periodic reports on the performance of these companies and submit them to the committee in charge of the Ministry of Justice, explaining that the company’s duty is limited to the financial supervision and commercial work and save the rights of workers and suppliers.
Also said that one of these companies before issuing a follow-up financial decision has closed its branches , a company-owned by former Al Ahly player Mohamed Aboutrika.
As for Misr Travel scheme to overcome its financial loss over the past years since 2011 Rashad Refai the company’s chairman said he would launch a partnership agreement with a strategic investor to develop the Magawish Village project in Hurghada to invest 50% of the land space area around the village as it built on 20% of the space allocated to them. As well as directed the company to create multiple partnerships to bring more investment to promote a number of existing tourism projects.
