The government is preparing to take a radical decision in privatization. Bridges and highways will not be privatized, instead, the shares of 'Yol A.Ş.', which will be established under the Ministry of Finance, will be made with the income from the public offering.
The government is working on a new plan by giving up the privatization of bridges and highways. Finance Minister Mehmet Simsek said at a press conference yesterday that the bridge and highway privatization process is at the beginning of the process, at this point they are evaluating the IPO option said.
According to information obtained, first of all planned to build a bridge for the construction of all bridges and highways will be established. The shares of the Company will be offered to the public and the shares of the citizens will be ensured. In this way, citizens will be able to make a profit over time by taking a bridge share instead of home.
ROAD WILL BE SET
The government will establish high-volume projects by the Ministry of Transport, Maritime Affairs and Communications, and then transfer it to the Ministry of Finance to establish a private company similar to "Yol A.Ş.", which will be controlled by Finance. The maintenance and repair of the bridges and highways to be built will be carried out by the General Directorate of Highways affiliated to the Ministry of Transport. With the proceeds to be obtained through the public offering of the shares of this company, the construction of bridges and highways will be carried out through this company.
CONTROL AT THE MINISTRY OF FINANCE
It is predicted that the public share in the company will remain 49 percent. It was learned that the control of the company to be established for the construction of bridges and highways will be given to the Ministry of Finance. After the establishment of the company, the Ministry of Finance will collect demand by selling shares before the construction of bridges and highways is started with the public offering method. It is stated that this method will also reduce the burden on the budget.
Repair works of Highways
It was stated that the citizens who bought the shares through the public offering method of the company will receive a share of the income to be obtained from the bridges and highways in proportion to their shares, while the maintenance and repair of the bridges and highways will be carried out by the Ministry of Transport. Thus, it is stated that bridge maintenance and repair costs can be covered from these revenues. However, it is pointed out that all these should be regulated by law.
SHARE OF THE PUBLIC 49 PERCENT
In the meantime, the bureaucrats stated that THY was successful as the public share decreased to 49 percent at the end of the privatization process, and that the public share in the new company to be established was predicted to be 49 percent. Thus, it was emphasized that with the state holding 49 percent of the shares, the company will be able to make important decisions autonomously with the remaining 51 percent. In Turkey, bridges and highways were provided last year from 810 million pounds in revenue.
Source: the ekoayrınt