Saakashvili Expects USD 200 Million from Privatization

Georgian President Mikheil Saakashvili said, on December 22, that the state budget will receive about 200 million dollars from privatization in 2005.
 
?Out of this sum, USD 70 million will be directed to the Georgian Army, USD 70 million to the energy sector and the remained funds will be spent on construction of roads and on other social issues,? Saakashvili said.

Saakashvili made a televised address while meeting with Prime Minister Zurab Zhvania, incoming Economy Minister Lexo Alexishvili and State Minister for Economic Reform Issues Kakha Bendukidze.
 
?During [Eduard] Shevardnadze?s presidency, 90% of the state property was sold; however, the budget received almost nothing. We expect to receive about 200 million dollars from privatization of the remaining 10% of the state property,? Saakashvili said during the talks with the economic team of the government.
 
In his televised address the President also slammed the opposition for criticizing the government over the privatization of the Georgian Ocean Shipping Company.
 
At a parliamentary session on December 21 leaders of the opposition Republican Party and the Rightist Opposition coalition condemned the Georgian government?s ?covert deal? with the Greenoak Group over selling 100% of the shares of the Georgian Ocean Shipping Company. According to the preliminary agreement, the Greenoak Group, a major investor company in Georgia, will purchase the Georgian Ocean Shipping Company for USD 107 million.
 
?If any Georgian oligarch, who earned money during Shevardnadze?s presidency, want to pay more [than USD 107 million] for the Shipping Company and return this money to the budget and the people, we will only welcome this,? Saakashvili added.