Half of Egypt’s public companies privatized

Published May 13th, 2001 - 02:00 GMT

The Egyptian Minister of Public Enterprise Mokhtar Khattab has recently stated that, to date, 50 percent of Egypt’s 314 public companies have been privatized, reported the Cairo-based daily, Al-Ahram. Total proceeds from the sale of the 156 companies amounted to 15.4 billion Egyptian pounds ($3.96 billion) by 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. The items related to consist mainly of wheat and pharmaceuticals products. — (MENA Report)

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