Sell-off tar­get will not be met

Troika gives green light to TAIPED to cut cor­ners for speed­ing up pri­va­ti­za­tion projects such as PPC

Kathimerini English - - Front Page - BY ALEXAN­DRA KASSIMI

The rep­re­sen­ta­tives of Greece’s in­ter­na­tional cred­i­tors and the state pri­va­ti­za­tion fund (TAIPED) yes­ter­day agreed that the coun­try will not be able to make the 2.6-bil­lion-euro tar­get for rev­enues from pri­va­ti­za­tions this year, al­though they stopped short of re­vis­ing it.

Af­ter the fail­ure of the first ten­der for the Pub­lic Gas Cor­po­ra­tion (DEPA) and the risk of a can­cel­la­tion of the deal for the OPAP gam­ing com­pany due to the buy­ing con­sor­tium’s strong reaction to the firm’s con­duct, TAIPED has been scram­bling to find al­ter­na­tive sources of rev­enues.

As a re­sult, dur­ing the meet­ing be­tween TAIPED and the rep­re­sen­ta­tives of the Euro­pean Com­mis­sion, the Euro­pean Cen­tral Bank and the In­ter­na­tional Mone­tary Fund, it was agreed that pro­ce­dures for other sell-off projects would be speeded up, given that the only rev­enues TAIPED has man­aged to bring in this year was the 69 mil­lion eu­ros from the con­ces­sion of the In­ter­na­tional Broad­cast­ing Cen­ter (IBC) to Lamda De­vel­op­ment last sum­mer.

Re­gard­ing DEPA, a sec­ond ten­der will be an­nounced as soon as pos­si­ble which will be con­ducted at a faster pace, in just one stage, with­out the non­bind­ing of­fers phase. Sell-off projects ini­tially sched­uled for later will now have to be brought for­ward and if pos­si­ble con­ducted by the end of the year.

Among the com­pa­nies in ques­tion is Pub­lic Power Cor­po­ra­tion (PPC), which was orig­i­nally go­ing to be fully pri­va­tized by end2015. Now sources say that the govern­ment will be hop­ing to com­plete the PPC sell-off pro­ject within 2013. TAIPED will also at­tempt to ac­cel­er­ate the sale of Pi­raeus Port Au­thor­ity (OLP), which had been planned for early 2014, along with the last re­main­ing state stake in OTE tele­com, amount­ing to 6 per­cent. An­other 4 per­cent in OTE could also be sold off, al­though this does not be­long to the state but to the So­cial Se­cu­rity Foun­da­tion.

Fi­nally TAIPED will seek a way for the im­me­di­ate sale of real es­tate properties to take place, pos­si­bly through an elec­tronic auc­tion that would rapidly pri­va­tize a large part of the properties be­long­ing to the state.

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