CAIRO — “Privatization” is still a bad word in Egypt, carrying the stigma of the “privatization ministers” under the Mubarak regime. They sold state properties like factories, companies and facilities serving citizens such as power and gas distributors and phone companies to members of the disbanded National Democratic Party (Mubarak’s party) at low prices. On March 4, privatization knocked on Egypt’s door in a new form that has many experts alarmed.
Privatization has taken on a new form in Egypt’s economic life. On March 4, the Egyptian parliament amended 1980's Law No. 152, which established the Egyptian Railway Authority. The amendments gave the authority more power, including the role of making agreements with the private sector to outsource the building, managing, operating and maintaining of railways. Its ultimate goal is to improve and expand these services and increase investments.
