Morocco extends by one year privatization law

The Moroccan government decided on Tuesday to extend by one year the law on privatization.

"The government has adopted a draft law that extends by one year, i.e. until December 31, 1999, the law on the concession of state-owned enterprises to the private sector," acting spokesman for the government, Mohamed Bouzoubaa announced.

The former law, adopted by the house of representatives ten years ago, had set the deadline for privatization at December 31, 1998.

Since the operation was launched 54 state-owned enterprises and hotels were sold to the private sector out of a list of 113 privatizable enterprises.

The spokesman announced that no less than 30 institutions will not be privatized in view of their bad financial situation.