Privatization revenue, according to the Anatolia news agency, amounted to only $2.3 billion in 2009, a precipitous drop from the $6.3 billion earned in 2008. Experts say a busy government agenda along with worker protests in companies subject to privatization slowed the process, in addition to a lack of access to funds on the part of potential buyers caused by the global crisis.
2009 was a productive year for the sale of electricity distributors, with Başkent Elektrik Dağıtım selling for $1.23 billion, Sakarya Elektrik Dağıtım going for $600 million and Meram Elektrik Dağıtım bringing in $440 million, making a total of $2.3 billion in privatization revenue.
Privatization income in 2008 comprised approximately $2 billion in block sales, $2.25 billion in the sale of facilities and assets, $1.9 billion in public offerings and $89.9 million totaling $6.3 billion. The government, however, still has $3.9 billion outstanding from privatizations that have been concluded but are awaiting the transfer of facilities to their new owners.
2009 was a rough year for privatizations as workers resisted the government’s attempts to divest itself of its enterprises and tied its hands with protests. Moreover, the damaging aftereffects of the global financial crisis led to a lack of buyers, with many potential purchasers holding down spending and declining to participate in tenders launched by the government.
