Oman says it has no plans to divest stake in government firms

29 November 2010

No immediate plans exist to divest stakes in state-owned companies, according to the Oman government

Oman’s national economy ministry has said there are no immediate plans to divest stakes in state-owned companies, as the government seeks to maintain control on companies that produce essential commodities, Times of Oman has reported. “I don’t think the time is right for divesting government stake because the world is still in crisis,” Abdul Malik bin Abdullah al-Hinai, undersecretary for economic affairs at the ministry said. However, the government plans to sell stakes only in power generation firms in the near future and “it is too early to decide on privatising transmission lines,” he said.

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