Privatization panel holds first meeting

Muscat: The committee tasked with the preparation of the general privatization programme on Wednesday held its first meeting under the chairmanship of Dr Dhafir bin Awadh al Shanfari, CEO of the Public Authority for Privatisation and Partnership and head of the committee.

The meeting was attended by representatives of the ministry of finance, the Supreme Council for Planning (SCP), Oman Investment Authority (OIA) and the National Program for Fiscal Balance (Tawazun).

The meeting discussed the preparation of the general privatization programme concerned with devising regulatory policies for the privatization process as well as the implementation mechanisms and timeframe in accordance to the general economic and financial objectives.

The general privatization programme identifies the sectors targeted for privatization and the assets that will be prioritized. It also determines the percentages and the suitable mechanisms for privatization either through public offering, private placement or the selling of shares to a strategic partner or any other way.

Al Shanfari said the Public Authority for Privatisation and Partnership prepare the privatization programme in accordance to studies and assessment of the economic and legal situations as well as the evaluation of the prior privatization operations. The privatization programme will be carried out in stages that are well studied by economic advisors who evaluate the economic feasibility of the projects proposed for privatization and measure potential effect on the economy and citizens. — ONA

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