ECONOMY

Sleeves rolled up for selloff plan

After the furor caused by news that Greece is upping targeted privatization revenues to 50 billion euros, the Finance Ministry is working on procedures for the asset selloff procedure so that the minister, Giorgos Papaconstantinou, can unveil in mid-March how Greece will go about achieving this target.

Right now the ministry is moving ahead with the hiring of advisers for the privatization agenda. And, the names of the advisers that will weigh up the privatization of Athens?s old international airport at Elliniko are expected to be announced within the next few days by State Minister Haris Paboukis.

The government?s joint ministerial privatization committee is scheduled to meet on Friday, along with the strategic investments committee, in order to decide on whether the Elliniko project will be included in the fast-track procedure.

Meanwhile, the group of advisers who will help the government decide on whether or not to extend the Athens International Airport concession agreement to Germany?s Hochtief has already been selected.

A French bank and a Greek lender have been chosen and their task will be to measure the benefits arising from a possible extension of the concession agreement by 20 or 30 years.

Such an agreement could earn Greece between 200 million to 300 million euros, according to some estimates.

The government is also very close to appointing an adviser regarding the renewal of the operating licence held by betting company OPAP.

Additionally, developments are soon expected on the selloff of nickel producer Larco, and the development of the country?s ports and regional airports.

Meanwhile, Alpha Bank criticized the government in its weekly report published on Thursday for delaying in implementing its privatization agenda and for a lack of proper planning in order to achieve targets.