An economist says selling state assets is a waste of public funds, and investment is the best option.
Economic expert Hashim al-Haboubi warned against selling state assets, particularly those of the Ministry of Industry, under any pretext, describing such a move as a blatant waste of public funds and a squandering of the country’s economic resources.
In a statement to the Information Agency, al-Haboubi said, “The Ministry of Industry owns a large number of factories and plants with diverse and important production capabilities, which could generate enormous economic returns if they were to resume operations.” He pointed out that “their personnel are already present and receiving regular salaries from the state without any real productivity.”
He added that “the process of rehabilitating these massive factories and plants requires substantial financial resources that could burden the country’s general budget.” He explained that “the most suitable and optimal option for the government is to offer them for investment by specialized international and local companies.”
Al-Haboubi stressed his “categorical rejection of the trend of selling state assets in various sectors,” emphasizing that joint investment is the only way to revitalize national production without placing additional burdens on the state budget.
Almaalomah.me