The government has so far withdrawn 41 percent of revenues from the privatization of state enterprises to spend on settling its debts or on investment projects since September 1999, according to an official government report just released.
The total sum withdrawn by the government from a fund deposited in the Central Bank of Jordan following the sale of a number of businesses to the private sector and foreign parties has now reached JD287 million out of JD695 million in revenues from the privatization process, said the report as published in Al Arab Al Yawm daily on Monday, January 8.
The government has privatized the cement company, the public transport, the Main Spa complex and the Aqaba railway and has sold half of its equity in the Jordan Telecommunications Company and all of the duty free shops at the country's airports.
According to the report, the government has spent the money on a number of economic projects, on buying Jordanian debts and giving loans to civil and military institutions, all within the framework of the Privatization Law as endorsed by Parliament last year.
For example, withdrawals from the funds resulting from the sale of the telecommunications company amounted to JD119.3 million out of JD508 million last year. Also last August the Cabinet decided to allocate JD8.4 million to spend on water projects in Lejoun district and in Amman. Another JD30.5 million was allocated to housing schemes for the Armed Forces personnel and employees of the Ministry of Education. Most of the money was disbursed as long-term loans.
Among other withdrawals were JD27 million for development schemes, including a JD5 million loan to Al Hussein University.
The government spent JD4.9 on the purchase of a hospital in Mafraq, and granted the Housing Corporation a sum of JD5.5 million to help it carry out housing schemes. — ( Jordan Times )
© 2001 Mena Report (www.menareport.com)
