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Blanket manufacturing facility among units to be privatised

02
Dec '08
According to reports emanating from Myanmar, the government is contemplating privatising more than 36 state owned enterprises under a sealed tender system as part of its drive to ensure that these companies continue to function and provide employment.

These companies which function under the aegis of a number of ministries are mostly located in the Yangon and Mandalay regions. From amongst the companies to be privatised are a blanket factory and a leather unit.

According to the Privatisation Commission set up by the government, the last date for receiving the tenders is January 15, 2009. This privatisation drive had been initiated since 1995 and till date, the government has handed over nearly 254 companies to private ownership.

The whole process is carried out by auctioning, leasing or entering in to joint ventures with domestic or foreign investors. The companies included in the drive till date has also included textile manufacturing units.

Fibre2fashion News Desk - India


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