On Monday, 09 October 2023, the President assented to the 2023 Privatization Act. The Act will overhaul the regulatory framework for privatizing public entities established by the 2005 Privatization Act. It represents a notable and hopeful advancement in privatization regulation. It is expected to enhance privatization by simplifying the privatization process and timelines. It is also aimed at encouraging wider participation, fair evaluation, and quicker funding to have a positive impact on privatization. We highlight the changes introduced below.
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