The Egyptian government is considering leasing a number of its enterprises to the private sector in the event that it will not receive any offers from investors for their purchase, reported Al-Hayat.
Prime Minister, Atef Obeid, denied rumors about the government’s decision to shut down the Build-Operate-Transfer (BOT) system-based projects and added on the contrary that the government will award the firms loans in order to compensate for the devaluation of the local currency.
The government recently re-opened the privatization procedures of four state-owned commercial banks, with plans to offer an interest range of five to 15 percent to investors, reported Al-Alam Al-Yaum. International rating agencies, Moodys and Standard and Poor’s, have begun preparing credit ratings on the banks. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
