Mechanisms of implementing privatization processes

The implementation of privatization uses mechanisms and passes through the following stages:

• Decision is taken and announcement made to privatize an enterprise .The mode of privatization may be specified at this stage.

Referential conditions are set up to select financial, legal and technical consultants to assist in the process of privatization of the concerned enterprise.

• Detailed study is carried out to ascertain the position of the enterprise and challenges faced by it and a proposal for the appropriate mode of privatization submitted.

Strategy for privatization with timing, mode and execution program is determined.

• Recommendations for strategy implementation are submitted to the Ministerial Committee for approval. Final recommendations will be submitted to the Council of Ministers for approval.
• Intent of the government to privatize an enterprise is announced in different information media locally and internationally in order to attract the interest of qualified finance and investment organizations. Investors are invited to submit their offers in accordance with the referential conditions delivered to them.

Organizations’ bids are short listed following the receipt of offers of interested organizations.

• Technical and financial specifications in the offers are evaluated in order to select the best suited offer with respect to the conditions and standards specified.

• Documents necessary for the privatization process are prepared to enable agreements to be entered into with the contracting parties and the conditions binding these parties.

• practical actions of privatization of the concerned project are taken in the light of the mode adopted. Qualifie investors will be subjected to selection of the best offer.