The Egyptian government plans to step up its privatization program and sell its stakes in telecom, electricity and oil distribution companies to increase its sources of revenue, reported the Egyptian Gazette newspaper.
Minister of Information Safwat Al Sherif said that the government would offer a 15 percent share in state-owned Egypt Telecom, 15 percent in electricity distribution companies and 40 percent in oil distribution companies.
Companies on the list to be privatized include Helwan Portland Cement, Eastern Tobacco, retailer Omar Effendi, several cement firms, hotels, milling companies and industrials, he said, cited by the paper -- Albawaba.com
