Parliament's upper chamber extends privatization deadline to end of January 2000

The upper house of the Moroccan Parliament (chamber of advisors) approved on Wednesday a law that extends to next January 31, the deadline for the privatization of state enterprises, initially expiring at the end of last year.

The advisors had rejected last January the draft law that was passed some days ago by the lower chamber (house of representatives), arguing that the law was unconstitutional as it was submitted after the deadline that expired on December 31, 1998.

The former law, adopted by the Moroccan parliament ten years ago, had set the deadline for privatization at December 31, 1998. Receipts are estimated at $1.5 billion.

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.