Moroccan government accelerates privatization process

Official sources in the Moroccan government set up a list of 20 companies owned by the government, inlcuding two banks, to be sold to the private sector immediately, while 38 other companies were removed from the privatization list that were raised for sale since 1993.

The sources added that in light of its policy aimed at accelerating privatization, the number of companies offered for privatization soon increase to 20 companies.

The sources said the privatization program did not succeed except in selling 56 of 114 corporations raised up for sale, because most of these companies were not in good economic condition before being presented for sale.