Nasser announces a list of nationalizations in…
1963 CE
The decrees nationalize all private banks, all insurance companies, and fifty shipping companies and firms in heavy and basic industries.
Eighty-three companies are obliged to sell fifty percent or more of their shares to public agencies.
A second agrarian reform law lowers the limit for an individual owner from two hundred to
one hundred feddans.
The nationalization program continues in successive waves through 1962 and 1963 and involves shipping companies, cotton-ginning factories, cotton-exporting companies, pharmaceutical
producers, ocean and river transport companies, trucking companies, glass factories, and the largest book publishing company in Egypt.
Seven billion Egyptian pounds in shared and public assets will be transferred to public ownership between 1952 and 1966.
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