A high council for privatization in Lebanon

The Lebanese Cabinet chaired by Prime Minister Salim al-Hoss decided to found a high council for privatization whose task will be to sell the origins of projects owned by the country to the private sector and to use the funds from these sales to reduce public sector debts and treat the chronic shortage of funds.

The council is chaired by Prime Minister al-Hoss and will have administrative and financial independence. The government currently manages electric corporations, telephones, transport, airports and harbors in addition to petroleum refineries in Tripoli and al-Zahrani.