CAIRO: Prime Minister Ahmed Nazif s decision to turn the General Authority for Health Insurance into a holding Company under the name ‘the holding company for health care,’ is not aimed at privatizing health insurance, said Minister of Health and Population Hatem Al-Gabali, according to reports by the State Information Service.

The decision was meant to restructure the General Authority for Health Insurance, explained the Health Minister.

The reports added that the holding company is expected to be a state-run company and its general assembly will be headed by the health minister.

The Egyptian official said some 278 medicines for healing chronic diseases would be subsidized. The prices of such medicines are expected to be brought down by 50 percent, added the minister.