300 thousand workers fired within 7 years

166 bankrupted enterprises

300 thousand workers fired within 7 years

El Khabar, 5 January 2008

Not less than 300 thousands workers have lost their job during the last seven years following the bankruptcy of 166 state owned companies, according to official figures. This period has been the entering into force of privatization process after six years of a wide dissolution of state owned enterprises. Governmental sources have owed this social dilemma to two principal factors. Firstly, to the slow pace of privatization scheme the government adopted officially and more seriously compared to years that preceded 1999. Secondly, to the non-commitment of private operators with government’s requirements in terms of development of production means, preserving the existing manpower and not changing the activity of enterprises after being yielded. Furthermore, Investment Ministry figures reveal that the number of bankrupted enterprises has exceeded 150, pointing out that state owned companies represent 25% of GDP while private sector represent the rest, i.e. 75%.

 

05-01-2008 By D.B/ Translation A.A