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Foot-dragging causes more sell-off delays

By Vangelis Mandravelis

The countrys privatizations program is suffering from yet more delays, with revenue targets diminishing every quarter as the few sell-off projects under way are moving very slowly due to the numerous necessary government decisions that are taking a long time.

For instance, the joint ministerial decision on the transfer of train carriages from Hellenic Railways Organization (OSE) to the Greek state was finally signed a few days ago, a year after the agreement with the European Commission that lifted the obstacle of state subsidies. The carriage ownership transfer was meant to cancel out past state subsidies to the railway company so that it could be privatized.

Another example is Egnatia Odos, the highway across northern Greece whose sell-off could not start until the number and type of toll charges were determined something which was delayed for over nine months. Eventually Greeces creditors set it as a prior action for the next tranche payment and the decision was made and published on April 10. There also are similar stories concerning the ODIE horse-racing organization and port authorities.

ekathimerini.com , Sunday April 27, 2014 (21:32)  
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