The Moroccan National Railways Office is expected to apply for a $500 million loan in the near future to finance the conversion of the Office to a joint stock company under the government’s sponsorship, reported Al-Hayat . Morocco’s budget for 2002 consists of converting some of the government’s public offices into joint stock companies in an effort to accelerate economic liberalization. A senior source at the railways office revealed that the conversion of the office into a joint stock company will cost more than $600 million. This includes repaying the office’s debts to the Social Solidarity Funds, which are estimated at MD 6.7 billion. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
