First 280 public assets ready to be sold

TIRANA, June 1 – The government says it has completed assessment procedures for 280 assets, worth 5.36 billion lek, until May 2011 and is currently examining 455 other assets. Speaking in an interview with the daily Panorama this week, Economy and Energy Minister Nasip Naco said land owners will be given priority in the privatization process. “The beneficiary land owners can pay 20 percent for the object built on their land in cash and the remaining 80 percent in privatization bonds,” stated the Minister. Since last February, the Ministry of Economy has invited interested persons and companies to visit the www.privatizime.al website where they can find information on the assets put up for sale. The ministry’s goal for 2011 is to initially privatize all state-owned assets which are not used for public interest. The privatization list includes remaining state owned shares in strategic oil, and phone companies, small hydropower plants, military facilities and small and medium-sized enterprises; excluding large hydropower plants and dams, schools, hospitals and public buildings and offices which will remain under state ownership. The opposition Socialist Party has described the process as corrupt and warned that it will review every privatization contract as soon as it comes to power. The most important public assets to be put up for sale include oil producer Albpetrol, INSIG insurer, the remaining state-owned shares in Albtelecom.