Friday, November 14, 2008

To Sell Your Country in an Open auction

First of all I apologize for my misunderstanding to the huge surprise or rather the shock of this year NDPC , pardon my bad economic information but to be honest I did not get the real idea of the NDP plan except when I read it several times in the Newspapers. I read it several times because I wanted to know it was real , that the NDP really this time wants to destroy completely our economy !!??

In brief this is the plan of the NDP  :

  • The government would privatise public companies and factories  and distribute free shares through vouchers to all citizens.
  • Those Citizens are Egyptians citizens above the age of 21 years.
  • The parliament will start discussing that plan next week.
  • The shares will available to the Egyptians ,it will be available to the pensioners and Public sector employees “What about the private sector employees , what about the citizens who work as farmers !!??”
  • No Foreigners are allowed to buy these shares except if they are listed in the Stock Market !!???

Now my dear friends you have to know that this kind of privatization “The Privatization voucher system” was implemented before in different countries around the globe but it did not work in all countries as it should be.

It proved to be a big failure in Russia when it was implemented in 1992, people there used to sell the vouchers to get money without any considerations to the consequences , in the end a minority of people bought most of the shares and some of that minority was the Russian Mafia. 

Till now the ministers and the NDP officials seems that they do not understand the project or the plan as they should , their statements are contradicting to each other for example Mr. Gamal Mubarak as far as I recall said that our shares as total population above 21 years will reach max. L.E2000 ,yes L.E 2000 !! The Minister of Investment Mahmoud Mohi El-Din in the newspapers today said that the share of the citizen will be more than L.E 2000.

The people are more confused than the officials ,they do not understand how this plan will be good to the economy and will improve their living , several newspapers like Al Dostor and Al Badeel  asked the people about the plan and their answers were fearful , the people said that they would sell those vouchers to get food and pay bills ,other wondered if the government is going to sell the Nile and the High Dam!!?

This project is called officially now in the opposition and independent media as “I want my right “ based on the political comedy film presented from couple by the same name.In that film comedian Hany Ramzy plays the role of a young man who decides to sell his share in the country for the highest bidder.

All the economists ,previous ministers and primes ministers of Egypt are warning of that plan but no one from the regime is listening , after all it is Mr. Gamal Mubarak Policies committee brain child.

From now to March many things can happen ,who knows !!??




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