Chapters:

Chapter One  |  Chapter Two  |  Chapter Three  |  Chapter Four  | Chapter Five

Chapter Two: Objectives and Manner of Privatisation

Article (2):

Privatisation constitutes part of the government programme to achieve the following objectives:

1. Diversification of national income resource and expansion of the production base of the country.

2. The provision of opportunities to the private sector to contribute to the development of the national economy.

3. Mobilization of the market activity and creation of competition.

4. Enhancement of the efficiency of resource utilization

5. Reduction of the financial and administrative burden on the general budget to enable the government to undertake the required strategic investments in the areas of basic services which could not be undertaken by the private sector.

6. Promotion and development of the capital market.
7. Increase employment opportunities for citizens in the private sector.
8. Encouragement of foreign investments and attraction of technical and administrative expertise and modern technology.

Article (3):

The government units, corporations, institutions and companies, intended to be Privatised, shall be restructured wherever necessary before the commencement of the total or partial Privatisation process.  Privatisation shall be made according to the following manner:

1. By granting the private sector the right of building, ownership and management, or concession rights, or building permit, management or leasing of Privatisation projects.

2. By sale of interest and shares owned by the government in the corporations, institutions and commercial companies.

3. By concluding contracts for participation in capital and management or either of them.

4. By any other manner deemed appropriate by the Ministerial Committee.

More than one of the above manners could be used where situations so require.

Chapters:

Chapter One  |  Chapter Two  |  Chapter Three  |  Chapter Four  | Chapter Five