English

Al-Ganzoury and Privatization

Prepared By: Heba Khalil

December 7, 2011

Research Unit

The Egyptian Center for Economic and Social Rights

At the time when the Supreme Military Council appointed Dr. Kamal Al-Ganzoury as Prime Minister of Egypt, and where the latter is attempting to form the new cabinet to begin his reign, the Administrative Court  -Investment Circuit- issued on December 3rd 2011 a ruling against one of the most clear cases of corruption of privatization and  ‘waste of public money/capital’, which is the case of selling and privatizing  ” The Arab Company for Offshore Commerce”. Ninety percent of the company’s shares were sold in 1999- during the previous reign of Al-Ganzoury as head of cabinet, without a real profit value; even more, the buyer was offered a grant of  EGP 11 582 000 in return for the purchase. Even though the value of this company is no less than EGP 400 million, it was sold for EGP 13 630 000 only, from which the buyer only paid 50% at the time the contract was signed, which is EGP 6 840 000 and the rest was to be paid over the course of a year. The rest of the payment was to be delivered by 4/8/2000, yet this has not been the case until the issuance of the ruling this month. In return to what the buyer paid, at the signing of the contract, he received the following:

  1. 90% of the company owned assets, and those leased to it, and the leasing of 10% of the remaining assets.
  2. EGP 1.3 million as the value of the share of the workers’ housing
  3. EGP 10 685 million equally distributed on three checks due from Abdel Wahab Qoutah owner of Port Said Company for Industry and Engineering, the value of each is EGP 3 561 953
  4. Additionally, the Company has not covered the debt which was the buyer’s responsibility, the debt amounts to EGP 6 437 000

 

By subtracting what the buyer paid from the total worth of what he received from assets and money, it comes apparent that he owns 90% of the Company’s shares for no real financial return and in addition, he was granted EGP 11 582 000.

The court ruling herein bears an important manifestation, at this specific time, of Al-Ganzoury’s real policies, away from his media campaigns through which he has excelled in marketing himself as a defender of the poor and a protector of the public money.

Al-Ganzoury was selected as one acceptable figure among the Egyptian public due to the popular conception that he exited the ministry due to his opposing positions to the Mubarak regime. However, he will not be faced only with this court ruling, but also with consecutive waves of activities which aim at disclosing the essence of the policies which he carried out during Mubarak’s regime, and from which the policies of his new cabinet are not expected to deviate nor differ much. Among those disclosing activities is the awaited court ruling about the privatization contract of the Nile Company for Cotton Ginning expected to be issued on December 17th, 2011, in addition to dozens of cases pursing to the remaining of the privatization contracts which were carried out during his reign like the privatization contracts of the Ideal Companies, TeliMisr, Bani Sueif Cement Company, and many others.

The current Prime Minister has previously occupied several governmental positions during the reign of Sadat, among which are the Governor of Beni Suief and El-Wadi El Gedid, Manager of the National Planning Center. Sadat’s successor, Mubarak, granted Al-Ganzoury the Ministry of Planning in 1982,which he also became in charge of as it took its new form as the Ministry of Planning and International Cooperation; the ministry was entrusted with linking and correlating the country’s interior economic planning to the agendas of the International Monetary Fund and the World Bank, the Paris Club and other donor and lender authorities. Al-Ganzoury retained this position even after he was appointed deputy prime minister, up until he was appointed as head of cabinet on the 4th of January 1996. Hence, Al-Ganzoury has not been far or distant from the ruling regime which the people revolted against along with its policies and tools of governance, and he did not come in order to form a government of “national salvation” or rescue, but rather to save the ruling regime to which he belonged and remained one of its key players in the sphere of political and social decision making over the past 20 years.

Al-Ganzoury’s first term in office as Prime Minister witnessed one of the highest waves of the privatization program of the public sector’s companies. The International Monetary Fund with which El Ganzoury was working as the minister of planning decided that the way for the developing the economy and passing out of the bottleneck is through cutting subsidies for the poor and getting rid of the state-owned companies through privatization, in order to encourage investment and to be freed from their burdens and losses. The result is clear: Al-Ganzoury is responsible for 30% of the sales on the agenda of the privatization program, which lasted from 1991 till 2009, during his first reign only.

With that, Al-Ganzoury’s reign in office as Prime Minster, even though shorter in time in comparison to the other prime minsters’ terms, is considered as one of the most vicious periods of liquidation and privatization and sale of full state owned companies, lands and productive assets. With a detailed analysis, we find out that during the period from 1996 to 1999, 115 public sector companies have been liquidated, privatized and sold in the following manner:

–      The entire or the most of the shares of 38 companies were sold in the stock market for a return value of 6 billion and 50 million and 301 thousand Egyptian Pounds

–       14 companies were sold for 1 main investor for in return for 1billion, 975 million and 336 thousand Egyptian Pounds

–      50 % of the shares of 13 companies were sold for less than 1 billion 865million and 907thousand Egyptian Pounds

–       20 countries sold to the Union of Shareholder Workers for 504 million and 490thousand Egyptian Pounds

–      7 companies or complete production units were under long-term contracts.

–      The same period witnessed the liquidation of about 16 more companies.

 

While looking at the total number of companies that were privatized since the beginning of the privatization program till its end in 2009, it becomes apparent that the reign of Al-Ganzoury makes up a substantial portion of the program. While the era of Ahmed Nazif has the lead in the program, El Ganzoury’s era comes second, followed by Atef Ebeid’s as the third and finally Ahmed Sedky’s reign as the lowest in rank, according to the number of companies privatized in each period.

 

Table (1) helps clarify the period, which each Prime Minster spent in office, and the number of public sector companies whose privatization he supervised, and the total monetary revenues resulting. In the total privatization program, which included 382 companies, Atef Sedqy’s ministry privatized 37 companies representing about 10% of the total of the privatization program starting in 1991, Al-Ganzoury privatized 115 companies amounting to 30% of the privatization total, during a period of less than 4 years spent as head of cabinet, Atef Ebeid sold 58 companies equivalent to 15%, and Nazeef’s share of the privatization’s program reached 172 companies presenting 45% of the total privatization program during 6 years as prime minister.

Table (1) monitors the proceeds of the privatization program from 1991 to 2009

Prime Minister Period Total of Privatized Companies Total Value of Sale(Billion EGP)
Atef Sedky November 9, 1986- January 4, 1996
(total of 110 Months)
37 2.262.0
Kamal Al-Ganzoury January 4, 1996- October 5, 1999
(total of 45 months)
115 10.098.869
Atef Ebeid October 5, 1999- July 14, 2004(total of 57 months) 58 5.493.131
Ahmed Nazeef July 14, 2004- January 29, 2011 (total of 78 months) 172 39.499.0(Monitoring ends in July 2009)
Total 382 Companies EGP 57.353 Billion

 

 

Table (2) shows the total of companies privatized through selling all or the majority of their shares in the stock market, during Al-Ganzoury’s reign as Prime Minister. The shares of (38) companies have been sold in the stock market, as follows: Two (2) companies of the Holding Company for Trade, Eight (8) companies of the Holding Company for Food Industries, Two (2) companies for the Holding Company for Housing, Tourism and Cinema, Nine (9) companies for the Holding Company for Construction and Development, Five (5) companies for the Holding Company for Spinning and Weaving, Five (5) companies for the Holding Company for Chemical Industries, Four (4) companies for the Holding Company for Mineral Industries, One (1) company of the Holding Company for Maritime and Land Transport and Two (2) companies of the Holding Company for Engineering Industries.

Table (2) shows the total of companies privatized through selling all or the majority of their shares in the stock market (Al-Ganzoury’s reign)

 

# Name % sold to Private Sector % sold to Workers’ Union % with Holding Company Value of Sales (Million EGP) to Private Sector Value of Sales (Million EGP)
to Workers’ Union
Date of Sale or Contract
Holding Company for Trade
1 Nubareya Engineering and Mechanization

79.38 %

20 %

0.62 %

21.431

5.517

14/5/97

2 Al-Nasr for Drying Agricultural Crops

90.00%

10.00%

0.00%

21.1

2.5

11/8/97

Holding Company For Food Industries
3 Derived Oils and Products

42.53 %

8.54 %

48.93 %

66.00

19.00

26/4/98

Date of approval of the General Assembly on the transition to dependence law159 of 81

 

4 Egyptian Starch and Glucose

51.03 %

10%

38.97 %

55.40

12.2

18/6/96

5 Central and West Delta Mills

51 %

10%

39.00%

153.10

24.0

30/6/96

6 Misr Oils and Soap

50.92 %

10%

39.08 %

58.30

14.9

7/8/96

7 Upper Egypt Flour Mills

51 %

10%

39%

142.9

22.4

4/11/96

8 East Delta Flour Mills

51 %

10%

39%

95.0

14.9

18/11/96

9 Egyptian Food: Bisco Misr

45.69 %

9.30 %

45.01 %

62.800

11.900

25/6/98

10 Cairo Oils and Soup

61 %

0.00 %

39.00%

33.00

0.00

7/1998
Date of approval of the General Assembly on the transition to dependence law159 of 81
Holding Company for Housing, Tourism and Cinema
11 Egypt’s Free Shops

87.40 %

10%

2.60%

121.50

11.2

2/2/97

12 Construction and Engineering Consultancy

88%

10%

0%

96.3

8.1

30/4/97

Holding Company for Construction and Development

3.11%

7%

0

2.20

2.8

12/2/96

13 United for Housing and Development

3.11%

7%

0

2.20

2.8

12/2/96

14 Madinet Nasr for Housing and Development

64.94%

10%

25.06%

168.839

20.800

13/5/96

15 Cairo Housing and Development

69.38%

10%

0

105.90

11.90

24/3/97

16 Upper Egypt Housing and Development

75.00%

10%

0

14.054

0.924

5/6/97

17 Giza General Contracting

70.00%

10%

20.00%

29.768

3.402

15/9/97

18 Industrial and Engineering Projects

80%

10%

10%

271.9

27.2

29/10/97

19 Mahmudiya General Contracting

69.75%

10%

20.25%

48.822

5.600

17/1/98

20 Al-Shams Housing and Development

50.46%

5%

44.54%

26.11

4.704

September 1996
21 Al-Nasr for Civil Works

70.67%

10%

19.33%

93.988

10.640

24/5/98

Holding Company for Spinning and Weaving
22 United Arab for Spinning and Weaving

60.4%

6.9%

32.7%

103.00

18.10

94/98

23 Alexandria for Spinning and Weaving

94.6%

5.4%

0

77.00

5.4

95/98

24 Arab Company for Cotton Ginning

90%

10%

82.3

4.8

September 1996
25 Nile Company for Cotton Ginning

90%

10%

274.8

20.0

January 1996
26 El-Nasr Cloths and Textiles (Kabo)

63%

0%

7%

196.9

0.0

11/6/97

Holding Company for Chemical Industries
27 Paints and Chemical Industries

53.75%

8%

38.25%

675.81

16.00

97-98

28 Abu Qir Fertilizers

2.80%

0%

0%

20.00

0.00

May 1996
29 Nile for Matches and Wooden Housing

55.67%

8.90%

35.43%

30.07

3.84

September 1996
30 Kafr El-Zayat Pesticides

70%

5%

50.69

8.437

0.375

September 1996
31 Paper for the Middle East (Simo)

75%

10%

15%

49.50

5.28

22/6/97

Holding Company for Mineral industries
32 Amiriya Cement

61%

10%

0%

725.60

43.2

98-94

33 Holwan Portland Cement

47.20%

5%

0%

516.00

661.20

25.0

9/11/95

3/12/96

34 Egyptian Financial and Industrial

64.70%

10%

25.30%

62

8

26/5/96

35 Nasr Castings

0%

32.50%

0%

0.00

47.5

12/97

Holding Company for Maritime and Land Transport
36 United Arab for Shipping and Unloading

29.50%

21.95%

49%

3.60

13.00

16/5/98

Holding Company for Engineering Industries
37 Electrical Cables

95%

5%

0%

310.0

10.8

97-95

38 Telemisr

90%

10%

0%

54.3

4.8

3/99–9/96

 

Table (3) shows the total of companies that were sold to main investors in the era of Al-Ganzoury. A total of (14) companies have been sold as follows: Four (4) companies of the Holding Company for Trade, one (1) company of the Holding Company for Food Industries, two (2) companies of the Holding Company for Housing, Tourism and Cinema, one (1) company of the Holding Company for Construction and Development, one (1) company of the Holding Company for Spinning and Weaving, two (2) companies of the Holding Company for Chemical Industries, one (1) company of the Holding Company for Engineering Industries, and two (2) companies of the Holding Company for Electrical Industries.

Table (3) shows the total of companies privatized by being sold to a main investor (Al-Ganzoury’s reign)

# Name % sold to Private Sector % sold to Workers’ Union % with Holding Company Value of Sales (Million EGP) to Private Sector Value of Sales (Million EGP)
to Workers’ Union
Date of Sale or Contract
Holding Company for Trade
1 El-Wady Crops’ Exportation

68%

27%

5%

86.78

35.214

18/12/98

2 Nubareyya Seed Production- Nubaseed

100%

0%

0%

103.25

0

20/4/99

3 Arab for Foreign Trade

90%

10%

0%

13.7

1.2

4/8/99

4 Ramsis Agriculture Sold the entire territory of the company for the Egyptian Awqaf Authority, and liquidation procedures of the company after the handover of land 161.153 10/1998
Date of Approval of General Assembly of transition 1/2000
Holding Company for Food Industries
5 Kaha for Preserved Foods

90%

10%

0%

144

10.2

8/98

Holding Company for Housing, Tourism and Cinema
6 Ahram beverages

90%

10%

0%

274

24.1

13/11/96

7 Ganakli beverages- Egyptian Al-Kroum

100%

0%

0%

32.156

0

4/3/99

Holding Company for Construction and Development
8 Al-Nasr Facilities and Installations

90%

10%

0%

0%

40

0

10/11/96

4/8/99

Holding Company for Spinning and Weaving
9 Modern Textiles- Bolevara

32.8

0

30/6/97

Holding Company for Chemical Industries
10 Beni Suef Cement

76%

5%

0%

405

21

5/7/99

11 Delta Sand Bricks

90%

10%

0%

57

5

5/7/99

Holding Company for Engineering Industries
12 Ideal

90%

10%

0%

285.9

25.2

December 1997
Holding Company for Electrical Industries
13 Al-Nasr Manufacture of Electrical Transformers- Mako

90%

0%

10%

114.843

0

25/2/96

14 Misr Mechanical and Electrical Projects- Kahromica

61%

10%

29%

90.89

11.92

19/6/97

26/8/97

 

Table (4) shows the total of companies privatized by being sold to the Union of Shareholder Workers during Al-Ganzoury’s years. Twenty (20) companies have been as follows: Two (2) companies of the Holding Company for Trade, Seven (7) companies of the Holding Company for Food Industries and Eleven (11) companies of the Holding Company for Maritime and Land Transport.

 

Table (4) shows the total of companies sold to the Union of Shareholder Workers in Al-Ganzoury’s years.oldi

 

# Name % sold to Private Sector % sold to Workers’ Union % with Holding Company Value of Sales (Million EGP) to Private Sector Value of Sales (Million EGP)
to Workers’ Union
Date of Sale or Contract
  Holding Company for Trade            
1 San-Alhagar Agriculture 0.00% 95% 5.00% 0.000 18 1/3/99
2 Egyptian Irrigation and Drainage 60.00% 30% 10.00% 3.196 1.982 January – 99
  Holding Company for Food Industries            
3 Mills of Damietta Belqas 0.1% 90% 9.9% 0.005 48.557 1/1/98
4 Mills of Al-Sharqeyya 0.1% 90% 9.9% 0.007 38.691 1/7/98
5 Mills of Kafr Sl-Sheikh 0.1% 90% 9.9% 0.005 12.983 27/7/98
6 Mills of Rasheed 0.1% 90% 9.9% 0.005 11.498 26/9/98
7 Mills of Al-Behera 0.1% 90% 9.9% 0.010 21.780 26/9/98
8 Mills of Dakahleyya 0.1% 90% 9.9% 0.020 36.713 3/10/98
9 Mills of Alexandria 0.1% 90% 9.9% 0.010 26.775 10/10/98
  Holding Company for Maritime and Land Transport            
10 Nile Heavy Transport 95% 5% 0.000 27.200 15/11/97
11 Nile Transport of Goods 95% 5% 0.000 24.100 15/11/97
12 Nile Land Transport 95% 5% 0.000 27.300 15/11/97
13 Supplies and Marine Works 51% 49% 0.000 16.400 19/10/98
14 Amoun Shipping Agencies 44% 44% 5% 13.200 12.700 4/11/98
15 Abu Simbel Shipping Agencies 44% 44% 5% 13.200 12.800 4/11/9830/1/99
16 Memphis Shipping Agencies 44% 44% 5% 22.000 21.300 4/11/9830/1/99
17 Mary-Trans 44% 51% 5% 20.200 22.500 10/11/98
18 Transport Works 0.13% 95% 4.87% 0.016 11.779 1/7/99
19 Direct Transport 0.08% 95% 4.92% 0.015 17.698 1/7/99
20 Suez Shipping and Unloading 0.1875% 61.875% 6.6875% 0.015 21.830

         10/99

 

Table (5) shows the total of privatized companies, with less than 50% of their shares sold in the stock market. Thirteen (13) companies were sold as follows: Five (5) companies of the Holding Company for Medical Industries, four (4) companies of the Holding Company for Food Industries, two (2) companies of the Holding Company for Construction and Development, one (1) company of the Holding Company for Chemical Industries, and one (1) company of the Holding Company for Mineral Industries.

Table (5) shows the total of privatized companies, with less than 50% of their shares sold in the stock market in Al-Ganzoury’s years.

# Name % sold to Private Sector % sold to Workers’ Union % with Holding Company Value of Sales (Million EGP) to Private Sector Value of Sales (Million EGP)
to Workers’ Union
Date of Sale or Contract
  Holding Company for Medical Industries            
1 Alexandria Pharmaceuticals and Industries 30% 10% 60% 41.8 9.9 95-96
2 Memphis Pharmaceuticals 30% 10% 60% 37.5 10 September 96
3 AlArabeya Pharmaceuticals 30% 10% 60% 14.4 3.8 September 96
4 AlQahera Pharmaceuticals 30% 10% 60% 48.9 13 November 96
5 Nil Pharmaceuticals 23.30% 10.00% 66.70% 42.49 12.15 95-98
Holding Company for Food Industries            
6   30.07% 10.00% 59.93% 19 13.3 10/4/96
7   30.00% 10.00% 60.00% 23.6 6.2 26/5/96
8   30.00% 10.00% 60.00% 117 31.2 28/10/96
9   30.00% 10.00% 60.00% 98.7 26.4 29/6/97
  Holding Company for Construction and Development            
10 Misr El-Gedeeda Housing and Development 7.14% 14/12/96
11 Egyptian Contracting 3.45% 10.00% 86.55% 22.767 52.8 24/6/98
Holding Company for Chemical Industries            
12 Shraqeyya Tobacco          

6/3/97

 

Holding Company for Mineral Industries            
13 Misr Aluminum 8% 0% 92% 221 0 97

 

 

Table (6) shows the Production assets sold during the years of Al-Ganzoury.

# Sold Assets Value of Sale in Million EGP Date of Sale or Contract
1 Sheraton Cairo (Ejot) 350 14/11/96
2 Tower Hotel (Egyptian Hotels) 6 6/11/97
3 Land and Buildings of San Stefano Hotel (Egyptian Hotels) 270.80 27/8/98
4 Distilled Beverages (Egyptian Crome) 26.04 8/10/98
5 Saclam Factory 19.5 August 98
6 Plastic Qabbary Factory- Civil Plastic Company 2.525 22/6/99
7 Core Alten factory- Delta Steel 28 August – 99

 

 

Table (7) shows the companies and production assets rented during the years of Al-Ganzoury.

Company of which Assets sold Production Assets sold Paper Value of Asset Date of Contract Duration of Rent Contract Value of Annual Rents CCo    Comments
General Egyptian for Tourism and Hotels- Egoth -Tut Floating Hotel
-Aton Floating Hotel

3/5/1999 5 years 1 Million EGP Obligation to renew both hotels
Industrial Shops for Silk and Cotton- Wasco New Spinning Factory- Mustard Qalyubeyya

1/7/1999 10 years 750 thousand USD + 3% of cloths sales Rent calculated on the basis of committee opinion that estimated the cost of capital invested in the assets at about 40.8 Million EGP
Sharqeyya Spinning and Weaving Minya ALqamh for Spinning 44.73 Million EGP 1/7/1999 5 years 9 Million EGP All factory workers, 1552 workers, operating
Qahera for Dyeing and Finishing Thread Dyeing Factory 0.117 Million EGP September 1999 5 years 0.336 Million EGP 60 workers operating
Egypt for Distribution and Cinemas Group A: Miami in Cairo – Middle Cairo – Alexandria Radio – Horeyya of Alexandria – Egypt Port Said 5.424 Million EGP 20/3/1999 20 years 2.2 Million EGP 67 Millions will be invested for investment and renovation
 Group II: Beagal in Cairo – Roxy Cairo – Rio winter in Alexandria -Summer Rio in Alexandria – Opera in Sohag 4.776 Million EGP 20/3/1999 20 years 2.6 Million EGP 47.5 Millions will be invested for replacement and renovation
Group III: Diana in Cairo – Normandy winter in Cairo – AlexandriaFerial – National Damanhur – Rashid Rashid 5.686 Million EGP 20/3/1999 20 years 2.5 Million EGP 46 Millions will be invested for replacement and renovation

 

Table (8) shows companies liquidated in the era of Ganzoury and the date of their Liquidation. A total of (16) companies were subject to liquidation as follows: one (1) company liquidated in 1996, three (3) companies in 1997, six (6) companies in 1998, and six (6) companies liquidated in 1999.

 

Table (8) shows companies liquidated in the era of Ganzoury and the date of their Liquidation

Name of Liquidator Date of Liquidation Decision Name of Subsidiary
Accountant/ Mustafa Ahmed Nour

18/3/96

High Dam for Civil Works
Accountant/ Badreldin Mahmoud Al-Dakar

26/8/97

Qanaltex Flooring
Engineer/ Saad Salem Saad

5/11/97

Prefabricated Housing
Accountant/ Mohamed Rashad Alghareeb

1997

General Company for batteries
Engineer/ Wageeh Abdelaziz Rady

1/7/98

Cairo for Silk Textiles
Engineer/ Yosry Mohamed Yosry

13/7/98

Installations and Industrial Services
Accountant/ Ali Hassan Wali

15/9/98

Graphite and Stationary
Chemist/ Mohamed Samir Shelqamy

28/9/98

General Mineral Resources
Engineer/ Abdelbary Mohamed Abdelbary

17/10/98

Marioot Agriculture
Chemist/ Hosny Ahmed Saad Mowafy

25/11/98

Egyptian Leather Industry- Standard Tanneries
Accountant/ Fekry Mohamed Abd Fehsarah

6/2/99

Sandstone Bricks
Engineer/ Hamed Ibrahim Hassan Abughalib

11/9/99

General Egyptian Agricultural
Engineer/ Essam Eldin Mohamed Ibrahim Zard

11/9/99

General Production and Agricultural Services
Engineer/ Fardous Abbas Ahmed Badran

23/9/99

Egyptian Meat and Dairy Production
Engineer/ Mohamed Burhan Eldin Youssef

25/9/99

Northern Tahrir Agriculture
Mr/ Tharwat Abdallah Shaker

14/10/99

Egyptian Jbact, Quarries and Marble- Jemko

 

 

Table (9) shows the totals of the Privatization program throughout the fiscal years, since its launch and until 2009.

Fiscal Year Total Number of Privatization Operations Value of Sale in Million EGP
1991 – 1994 11 418
1994 – 1995 14 867
1995 – 1996 12 977
1996 – 1997 29 4595
1997 – 1998 23 2487
1998 – 1999 33 1824
1999 – 2000 40 4708
2000 – 2001 18 370
2001 – 2002 10 952
2002- 2003 7 113
2003 – 2004 13 543
2004 – 2005 28 5643
2005 – 2006 65 14612
2006 – 2007 53 13607
2007 – 2008 22 3984
2008- 2009 4 1653
Total until June 2009 382             57353

 

 

The Egyptian Center for Economic and Social Rights in presenting this report to the public of Egypt and the political and social activists stresses that the center would not hesitate to take all legal measures to uncover the corruption that hit the privatization process and to ensure the prosecution of its perpetrators; The center will also take all legal measures to expose the policies of impoverishment of the Egyptian people, who did not win form these policies but the dismantling of the structure of industry Egyptian, and the laying off of workers through early retirement and the associated misbalance of the Pension funds, which made sole beneficiaries out of its subscribers, without any regard for the actuarial studies on which basis the pension funds have been created.

 

The Egyptian Center for Economic and Social Rights

December 7, 2011

Download a complete copy of the report