Egypt Privatization: 23 Firms On the Block; Oil Firms Feature Heavily

Seven downstream firms and two oil services subsidiaries of state firm EGPC are among 23 companies that Egypt’s Ministry of Finance this week announced will be offered under the country’s privatization plans.

These have the aim of delivering a shot in the arm to the Egyptian economy whilst broadening private sector participation: “part of the government’s agenda is to reduce the role of the state in the economy and unleash the potential of the private sector,” in the words of the IMF.

Cairo’s privatization plan is one of a number of reforms being undertaken as part of its $12bn IMF program ( MEES, 23 February ). (CONTINUED - 485 WORDS)

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table Egyptian Firms Lined Up For Privatization