The ruling AKP (Justice and Development Party) government in Turkey is reportedly analyzing the potential sale of institutions such as Turkish Airlines, Turk Telekom, and BOTAŞ, which are part of the Sovereign Wealth Fundas part of its economic recovery plan. With over 200 public assets already privatized, generating more than $60 billion in revenue, the income from predominantly Gulf countries as potential buyers could reach a staggering $100 billion, Turkey’s Cumhuriyet newspaper reported citing Senol Babuscu, former Deputy General Manager of Ziraat Bank.
Babuscu said that the new finance minister Mehmet Simek is working to increase budget revenues and mentioned that the sale of some companies in the Sovereign Wealth Fund is being analyzed.
“A partial sale of Turkish Airlines (THY), BOTAŞ, and Turk Telekom, which are part of the Sovereign Wealth Fund, may be considered. However, it seems difficult for US, European Union, and Japanese capital to show interest in these companies in this environment of distrust. This indicates that the sales will be directed towards Middle Eastern countries.”
Last week, Simsek and Vice President Cevdet Yilmaz and Treasury and Finance Minister visited the United Arab Emirates (UAE) in a bid to attract investment and Hande Firat, a pro-government journalist, wrote in her column in Hurriyet that the UAE is preparing to invest 30-40 billion dollars in “permanent and long-term direct investments”
According to Firat, the investments are expected to cover various sectors, with a particular focus on energy and defense industries.
Source: Gerçek News
