Politics: Inter-ministerial commission discusses privatizations program

An informal inter-ministerial Privatizations Commission meeting on Tuesday discussed a package of interventions included in a Medium-term Fiscal Strategy Framework (2012-2015) unveiled by the government last Friday.

According to sources, the Commission agreed to push on with a survey on reforms in the energy sector, including the future of DEPA and a plan to separate its subsidiary DESFA along with an option right by Public Power Corporation to buy the company. The survey is expected to be ready after the Easter holidays and a tender for the company’s sale will be made later this year.

The meeting also discussed privatization procedures for Hellenic Telecommunications Organization while the government is expected to hire consultants in a drive to make a more efficient management of the state’s real estate property. Sources said that representatives of PMU (Paris Mutuel Urbain), the French state-controlled totalizator that controls the pari-mutuel betting on horseracing in France and Europe's largest betting organisation, with annual turnover of 9.5 billion euros, attended the meeting expressing interest in an anticipated tender for the sale of ODIE, Greece’s state organisation of horse racing and betting.

Under the Medium-term Fiscal Strategy Framework, the government plans to sell an additional equity stake in Hellenic Telecoms this year, selling up to 31 pct of DEPA in 2011, selling Trainose and Larco this year, selling up to 17 pct in PPC in 2012 (with the state maintaining control and management) and selling the state’s equity stake in OPAP -Greece’s state lottery. The government expects to raise 15 billion euros from privatizations by 2013 and a total of 50 billion euros by 2015.

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