The Ministry of Planning and Investment has released draft regulations reducing State funding in State owned enterprises (SOEs).

Under the proposal, Government interest in State-backed pharmaceuticals, chemicals, finance, credit, vaccines, street lighting, drainage and sanitation enterprises would be cut for 65-75 percent to 50-65 percent.

Involvement in tobacco production and airport management would be slashed from 100 percent to 75 percent. The airport management reduction aims to attract more private investment.

The State’s stake in petrol whole sales would be reduced to 75 percent while stakes in the coffee and rubber processing industries would be cut to 50-65 percent.

The draft regulations are open for public comment.-VNA