Saudi Arabia functioning on 160 privatisations, utters finance minister
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Saudi Arabia is working on 160 privatizations and plans to announce more next year, according to Finance Minister Mohammed al-Jadaan.
He stated at a financial forum in Riyadh that plans to privatize assets in the education and logistics sectors were in the works.
Saudi Arabia halted the privatization of the Ras Al Khair desalination and power plant earlier this year, one of a number of state assets the government hoped to sell in order to reduce capital spending pressures and diversify revenues away from oil.
Story by : Norvisi Mawunyegah