Albania set to privatize power distribution system

Mar 02, 2008 01:00 AM

The Albanian Government approved a motion for start of the process of privatization of the distribution sector of the Electric Power Company (KESh).
According to the draft-law, the new owner will be entitled to acquire 76 % of the stake of KESh's Distribution sector, while privatization is due to be completed by the end of this summer.

PM Sali Berisha said that this would be the most important privatization of a state-owned company thus far. According to him, the privatization of this strategic sector is expected to bring improvement in the overall situation with the electric power supply, and particularly with the problem of overdue bills payment.
Albania is faced with massive power crisis and blackouts are occurring on a daily basis.

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