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Asik: 1998's privatization will reach $10 billion

HDN | 11/4/1997 12:00:00 AM |

Turkish Daily News Ankara - State Minister Eyup Asik has said they are expecting a revenue of $10 billion from privatization in 1998. State Minister Eyup Asik, responsible for the state monopoly Tekel, told the Anatolia news agency that the law which established Tekel was an obstacle to privatization because it included articles against selling off state enterprises but they would handle the issue and find a legal solution for it. The privatization of Tekel will begin by selling some of the shares of

Turkish Daily News

Ankara - State Minister Eyup Asik has said they are expecting a revenue of $10 billion from privatization in 1998.

State Minister Eyup Asik, responsible for the state monopoly Tekel, told the Anatolia news agency that the law which established Tekel was an obstacle to privatization because it included articles against selling off state enterprises but they would handle the issue and find a legal solution for it.

The privatization of Tekel will begin by selling some of the shares of the tobacco plant in Samsun to the company British American, said Asik. He also pointed out that this method of partial privatization would be carried out in the other tobacco and alcoholic beverages plants of Tekel as well.

"In the privatization of alcoholic beverages and salt plants, we will use the foreign associate method. Afterwards, we will start privatizing all the state-held shares until it is completed in the year 2000," said Asik.

In the last decade, Turkey was able to make $3 billion from privatization while the Motherleft-D coalition has gained $2 billion in revenue from privatization in only three months, said Asik.

"Our government has obtained $2 billion of privatization revenue from the sale of thermal power plants and mobile telephone licences. We are expecting $10 billion from sales in 1998 and we will use this privatization revenue in reforming the state institutions," said Asik.

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