Egyptian authorities recently announced that all remaining shares of companies to be privatized would be sold in the near future, according to London based Al-Hayat daily.
In addition, authorities revealed that offers had been received from a number of potential buyers to purchase these available stocks.
Minister of Public Business Sector, Mukhtar Khattab, recently stated that these offers were currently being evaluated. The available shares for sale include a wide range of firms from various sectors. These include: hotels and tourism, contracting, residential housing, food industries as well as cinema.
Nonetheless, despite the push to continue with the current privatization program, a wave of criticism has also arisen against it. As with most such programs, certain adverse social affects usually arise, whereas the influence of liberalization takes some time to reach the local population. –(Mena Report)
© 2001 Mena Report (www.menareport.com)
