AIRLINK 195.50 Increased By ▲ 3.66 (1.91%)
BOP 10.17 Increased By ▲ 0.30 (3.04%)
CNERGY 7.97 Increased By ▲ 0.30 (3.91%)
FCCL 38.42 Increased By ▲ 0.56 (1.48%)
FFL 16.04 Increased By ▲ 0.28 (1.78%)
FLYNG 25.48 Increased By ▲ 0.17 (0.67%)
HUBC 131.01 Increased By ▲ 0.84 (0.65%)
HUMNL 13.92 Increased By ▲ 0.33 (2.43%)
KEL 4.67 No Change ▼ 0.00 (0%)
KOSM 6.33 Increased By ▲ 0.12 (1.93%)
MLCF 45.30 Increased By ▲ 1.01 (2.28%)
OGDC 210.35 Increased By ▲ 3.48 (1.68%)
PACE 6.68 Increased By ▲ 0.12 (1.83%)
PAEL 41.20 Increased By ▲ 0.65 (1.6%)
PIAHCLA 17.83 Increased By ▲ 0.24 (1.36%)
PIBTL 8.13 Increased By ▲ 0.06 (0.74%)
POWER 9.35 Increased By ▲ 0.11 (1.19%)
PPL 181.60 Increased By ▲ 3.04 (1.7%)
PRL 40.25 Increased By ▲ 1.17 (2.99%)
PTC 24.70 Increased By ▲ 0.56 (2.32%)
SEARL 110.80 Increased By ▲ 2.95 (2.74%)
SILK 0.99 Increased By ▲ 0.02 (2.06%)
SSGC 38.80 Decreased By ▼ -0.31 (-0.79%)
SYM 19.20 Increased By ▲ 0.08 (0.42%)
TELE 8.71 Increased By ▲ 0.11 (1.28%)
TPLP 12.34 Decreased By ▼ -0.03 (-0.24%)
TRG 66.47 Increased By ▲ 0.46 (0.7%)
WAVESAPP 12.51 Decreased By ▼ -0.27 (-2.11%)
WTL 1.69 Decreased By ▼ -0.01 (-0.59%)
YOUW 3.99 Increased By ▲ 0.04 (1.01%)
BR100 12,090 Increased By 159.8 (1.34%)
BR30 36,121 Increased By 461.6 (1.29%)
KSE100 114,973 Increased By 1766.9 (1.56%)
KSE30 36,137 Increased By 571.3 (1.61%)

Italy is pressing ahead with plans to list its post office operator this year and its national rail company next year, a senior Treasury official said, adding other state-owned firms will be sold in an bid to raise money to cut public debt. Rome is looking at selling around 40 percent of wholly-owned Poste Italiane, the head of the technical office of the Economy Ministry Fabrizio Pagani told financial daily Il Sole 24 Ore on Saturday.
Both the European Commission and the International Monetary Fund have said Italy was falling behind schedule on its privatisation plan and urged it to speed up disposals to make the economy more efficient and help bring down a 2-trillion-euro public debt. A prospectus for the post office listing will be filed with the market watchdog in August, Pagani said.
The company could go public in October and could bring up to 4 billion euros ($4.4 billion) into state coffers, other Italian papers said on Saturday The privatisations are primarily aimed at reducing the debt and honouring commitments made to the European Union but the companies themselves should also benefit, Pagani said. "Many of those companies have so far lived off of state funds, but the world is changing and these companies... must stand on their own two feet."
The Treasury has made progress towards selling some of the assets held by railway group Ferrovie dello Stato, Pagani said, and the disposal of station operator Grandi Stazioni is at an advanced stage. Rome also aims to sell state-owned air traffic control operator Enav at the end of this year or the beginning of 2016. In April the government cut its target for revenues from the privatisations to 0.4 of gross domestic product per year from a previous target of 0.7 percent of GDP.

Copyright Reuters, 2015

Comments

Comments are closed.