The issue of privatization has been at the forefront of the government’s agenda as one of the means of reducing Lebanon’s public debt and its cost. As a result, Law No. 228 was issued on May 31, 2000 “to organize the process of privatization, determine its conditions and the areas where it can apply”.

The law determined the projects to be presented for privatization as “projects that are of an economic nature and have public characteristics (owned by the government or institutions/individuals of a public character as determined by Decree 4517).” It also dictates that a separate law be issued for each sector to be privatized.

The Higher Council for Privatization

In addition, the law specifies that a Higher Council for Privatization be set up, that is made up of the following:

• Council president: The Prime Minister

• Members: Minister of Justice, Minister of Finance, Minister of Economy and Trade, Minister of Labor, as well as the minister of the sector intended for privatization.
 

The Higher Council’s duties

The Council plans and executes the processes involved in privatization through the following procedures:

• Suggesting the general framework for privatization, methods of execution and presenting it to the Council of Ministers.

• Preparing a time frame for the projects to be privatized.

• Issuing the necessary decisions to ensure the process of privatization.

• Evaluating the resources and assets of the sector to be privatized.

• Preparing the necessary laws and decrees.

Meetings and personnel

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