MEDC privatisation expected in the first half

Muscat: Privatisation of Muscat Electricity Distribution (MEDC) will be completed in the first half of 2017, according to the Ministry of Finance. The financial and legal advisory studies for privatising MEDC have been completed. MEDC is a subsidiary of Electricity Holding Company (EHC) and owned fully by the government.
The Ministry of Finance, as part of the budget proposal for 2017, also said that ownerships of some government companies have been transferred to sovereign funds, in preparation of privatisation.
In 2016, the government has embarked on implementing a privatisation scheme in accordance to a framework set for the period between 2016 and 2020. The first phase of the scheme is completed after setting up a holding company for each sector, and transferring government shares to the relevant holding company.
The privatisation scheme will continue over the coming years. Such scheme is considered as one basic tool leading to expanding the ownership base of private sector, and deepening the capital market.