The Greek government must implement no less than 27 “prior actions” involving privatizations, named “key deliverables” by the EU Commission, by the end of December in order to meet a goal of concluding the third review of the current bailout by the end of the year.
The privatizations, in fact, are mentioned by name in a deal updating the third memorandum last June.
A handful of privatizations involve the state-run and still dominant electricity utility in Greece, the Public Power Corp. (PPC), including the delayed action to transfer its majority stake (51%) in the Independent Power Transmission Operator (ADMIE) to a holdings company. Another energy-related privatization is to institute a new mechanism for calculating networks’ capacity.
The government must also create a special secretariat for water management across the country and a data collection system.
Another privatization cited by creditors is the delay-plagued Helleniko real estate project in Athens, along with transferring the debt-laden Hellenic Aerospace Industry (HAI) to a state holdings company.
Meanwhile, a memorandum-mandated entity established in the 2016, the Hellenic Corporation of Assets and Participations, must acquire an internal organizational and operational charter, as well as publishing a strategic plan.
A preferred investor to get hold of a majority stake and the management of the natgas grid operator (DESFA) is also pending, after the first international tender failed to conclude with a sale.
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Source: naftemporiki.gr
