50 percent of Egyptian public companies privatized
The Egyptian Public Business Sector minister, Mukhtar Khattab, has recently stated that, to date, half of Egypt’s 314 public companies have been privatized, reports the Cairo-based daily, Al-Ahram. Total proceeds from the sale of the 156 companies amounted to EP 15.417 at the end of 2000.
Khattab also commented that the government would continue to maintain companies that provide subsidized products and services, so as to ensure reasonable rates for their goods on the market, as well as easy access to them by the public. These items consist mainly of wheat and pharmaceuticals products. —(MENA Report)
© 2001 Mena Report (www.menareport.com)