An unnamed official revealed the Cabinet is mulling a Freedom and Justice Party proposal to privatize portions of public companies in order to raise much-needed cash for Egypt's struggling economy.
The firms would not be completely privatized. Instead, only parts of the businesses would be up for purchase or lease.
The official, who requested anonymity, said companies best suited to be sold privately include those regularly reporting losses.
The source added that the FJP had included provisions to ensure new private owners would respect worker rights.
Government economists are currently studying the proposal.
According to the FJP, public sector companies are worth an estimated LE1 trillion pounds, with revenues worth LE6 billion revenues annually.
Edited translation from Al-Masry Al-Youm
