Egypt ranks 4th in its success of the privatization programs

Egypt obtained the fourth position in the International Monetary Fund's list for the success of its privatization program among 50 countries worldwide, Egyptian Minister of Public Works Atef Ebeid said, adding that the Egyptian experience is currently studied in world institutes.

Ebeid said that privatizing any Egyptian general company passes through a seven stage process in which seven large corporations take part in order to determine the real value of a company before it is put for sale, adding that when taking decision of selling, all parties, should approve of the step and that a company will not be presented to the ministerial committee on privatization unless there is a comprehensive approval on the value at which the company is being sold.