ECONOMY

Troika revises sell-off targets

The country?s privatization program has been trimmed considerably, according to sources. Kathimerini understands that the new timetable agreed by the government and its official creditors concerns no more than 19 billion euros in revenues by 2015, instead of the 50 billion originally agreed on. The plan also provides for revenues of 65 billion euros by 2017, including the big Helios solar project.

The representatives of the European Commission, European Central Bank and International Monetary Fund — known as the troika — appear to now appreciate the difficulties the sell-off program has run into and have agreed to a rationalization of the targets.

Within 2012 the troika expects the privatization of the Public Gas Corporation (DEPA) and its grid operator DESFA, the OPAP gaming company, the Athens and Thessaloniki water companies (EYDAP and EYATH) and the Piraeus and Thessaloniki port authorities (OLP and OLTH).

On Wednesday the board of the privatization fund (TAIPED) failed to agree on proceeding to the next stage of DEPA?s sale and the concession to operate the state lottery.