IMF slams Govt for extending subsidies under PTF to textile firms
30 Sep '05
1 min read
International Monetary Fund has slammed the Federal Government's low key privatisation process.
It said that the decision extend financial support under the recommendation of the Presidential Task Force (PTF) on Smuggled Textiles, a largesse in form of subsidies would hamper the privatization process.
A report published by the Nigerian Stock Exchange (NSE) in its monthly publication, mention that IMF rated the performance of government's privatisation programme as dismal and called upon the government to hasten the pace of privatisation in order to gain public support for it.
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