KUWAIT CITY, April 5: Within a few months, steps will be taken to carry out partial and orderly privatization in the public sector in a deliberate and balanced manner, says a high level government source.
The source stressed these steps will take into full account the rights of the employees and the interest of the state. The source explained that privatization and tangible studies merging five major government sectors will be partially involved in three phases over three years.
These are the electricity, communications, post, oil, investment and public services sectors. The sources added, there is no fear of a gradual privatization which has proved it is more capable of pushing the overall productivity to good levels.
The source pointed out, a government working group has been established to privatize projects to supervise the procedures and ensure their safety in accordance with the government standards, and shall be followed by the Council of Ministers.
The source pointed out the financial forecast for the upcoming privatization operations will be good, but cannot determine the financial value for the time being because they are subjected to market changes and the time of floating tenders. According to earlier semi-official reports the first phase includes the North Shuaiba power plant, land telephone lines and postal services.