Privatisation Programme hits snags

Gorvett, Jon
August 2003
Middle East;Aug/Sep2003, Issue 337, p38
A conflict between the Turkish government and one of Turkey's leading business families looks like putting the progress of privatization in peril. Turkey's privatization campaign has never been exactly famous for its smooth running successes. Unfortunately, the recent sell off of state petrochemicals giant Petkim has proved to be no exception. Falling foul of a major bout of economic and political warfare between one of Turkey's most controversial business families and the government, it now seems to have taken one step forwards and two steps back. It is not the first Turkish state company to run into sell off trouble. In the 20 or so years that have passed since the country embarked on a liberalization drive that aimed to roll back the substantial Turkish state, few enterprises have actually so far made it through all the hoops to free market operation.


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