Raising 41 public Egyptian companies for sale

Egyptian Minister of the Public Business Sector Mokhtar Khatab said, "The privatization plan for the year 2000 comprises raising 41 stumbled companies for sale, among which are 15 companies in fabrics and textiles, iron and steel fields that cause 75% of the losses achieved by the sector's companies."

He added that sales of these companies will be 90% for the private sector and 10% for the workers in these companies.

He also said in a meeting of the economic committee in the ruling National Party that 102 companies were sold by the end of 1998, among which are 29 companies sold to the workers, while 20 companies will be sold at the end of the current year with credits of nearly $3 billion.