Revenues fine, spending under control, privatization board says

ANKARA - Anatolia News Agency

Turkey expects to receive some 652 million Turkish Liras from the upcoming electricity distribution tenders. AFP photo

As of Sept. 6 Turkey received 1.191 billion Turkish Liras in privatization revenues, Turkey’s Privatization Board (ÖİB) announced in a written statement. The board also reported that it had spent $7.1 million liras in administrative expenses, $4.1 million in advertisements and consulting fees and a total of $11.3 million in privatization expenditures.

The statement detailing ÖİB’s finances was released by the board to set the record straignt following confusing reports from the media.

“As of Sept. 6 we have received 1.191 billion liras in privatization revenues. Some 1.6 billion of
these funds were transferred to the Treasury and related institutions. For example, the revenues
from the privatization of ports were channeled straight to the Ministry of Transportation),” the statement read.

In addition the statement claimed the board anticipated some 572 million liras in privatization revenues from last year’s installments and 652 million liras from the privatization of the electricity distribution tenders and sugar factories, which are at the privatization approval and contract stage. The total revenues anticipated from these will be close to 1.2 billion liras, according to the statement.