Egypt opts not to privatize Suez Canal
Egyptian Public Business Sector Minister, Mukhtar Khatab, stated that the Egyptian government has no intention of privatizing either the Suez Canal Authority, universities or railways, reported Al-Ahram newspaper. Khatab maintained that the government would not privatize these sectors due to concern for repercussions of such an act on limited income families in Egypt.
Meanwhile, Egypt has been experiencing a slowdown of its privatization program. Of the 314 companies targeted, only 156 have been privatized, bringing total sale proceeds to EP 15.417 billion as of the end of 2000. —(MENA Report)
© 2001 Mena Report (www.menareport.com)