Lebanese government discuss privatization of 52 companies

The Lebanese government chaired by Prime Minister Salim al-Hoss has set up a plan to privatize 52 governmental companies aimed at increasing the country's revenues through the privatization plan.

Lebanese economic sources told ArabicNews.com that the government will obtain billions of dollars from privatization revenues, adding that the Lebanese government has formed a committee under the chairmanship of al-Hoss, comprising five members.

It is expected that the process of privatization will lead to a reduction of governmental salaries by 49% during the current year.

The Lebanese government owns the telephone company, utilities, harbors, as well as the national airline and a company that manufactures and exports cigarettes, Regie.