Zaman - Privatization of state-owned assets in the last 26 years reaps over USD 42 billion, according to data gathered from Turkey’s Privatization Administration (OIB). While the country’s privatization program in 1985-2002 generated over USD 8 billion, it took off in the truest sense of the word between 2003 and 2011, injecting over USD 34 billion to Turkey’s expanding economy.
During the last 26 years, block sales generated USD 20.2 billion, while asset sales brought in USD 12.7 billion. Public offerings in the same period garnered USD 7.05 billion and USD 1.2 billion of sales took place in the Istanbul Stock Exchange (ISE). Sales of incomplete facilities added USD 4.4 billion to the total.
Turkey’s privatization initiative peaked in 2005 with USD 8.2 billion, when major public-owned sales of Petkim, Erdemir and Türk Telekom took place. The privatization thrust is expected to bring in USD 9.7 billion more, following the final approval of completed tenders.