Qathafi: Economic privatization is a people's socialism
Libya, Politics, 7/19/2005
"The Leader of the Revolution Muammar al-Gathafi affirmed that the transfer of ownership of companies and economic units occurring now in Libya is within the pattern of people's socialism to broaden the base of collective ownership and partnership," JANA reported about the privatization efforts.
The report said "The Leader indicated in his speech to the delegations of productive vocational congresses on Sunday that this transfer of ownership is not for one individual or even for four or five individuals but for tens hundreds and thousands of Libyans. Ownership of small factories are transferred to tens of Libyans by transforming them to partnership companies where every Libyan buys a share. Big factories and economic units are to be owned by hundreds of Libyans including those who are not working in those factories but have the right to buy shares of ownership even if they work in other fields like farmers, craftsmen, employees, policemen or soldiers."
Al-Qathafi called upon owners of production "to be like the rest of Libyan citizens in owning these factories and economic units by buying their shares, stressing that there is no one or nothing that prevent them from doing so."
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