Turkish privatization volume since 1986 exceeds USD 50 billion

Today's Zaman - The total volume of privatizations realized since 1986 has exceeded USD 50 billion. According to the Privatization Administration (OIB), USD 38.2 billion in privatizations realized during this period was carried out by the OIB. The total revenue from these privatizations amounted to USD 1.83 billion as of September 2009, according to the data. Privatizations that have been completed and approved or are in progress are expected to result in USD 2.4 billion in additional revenue. The Savings Deposit Insurance Fund (TMSF) and the Ministry of Transport also carried out some privatizations during this period. The revenue earned from privatizations between 1986 and 2002 totaled USD 8 billion. The income derived from privatizations amounted to USD 187 million in 2003 and USD 1.28 billion in 2004. 2005 saw the highest revenue from privatizations with USD 8.22 billion. Revenue from the privatizations carried out in 2006 was USD 8.1 billion, USD 4.29 billion in 2007 and USD 6.3 billion in 2008. Of the privatizations that have taken place since 1986, 53 percent occurred through block sales yielding USD 20.2 billion; 23 percent through sales of business units and assets yielding USD 8.95 billion; 19 percent through public offerings with revenues of USD 7.1 billion; 3 percent through sales in the Istanbul Stock Exchange (IMKB) yielding USD 4.4 billion and 2 percent through other types of privatizations.