The High Council for Privatization was established in 2001 by virtue of law 228 dated 31/5/2000 (insert hyperlink) and its operations were organized by decree number 5540 dated 23/5/2001 (insert hyperlink). This Decree distinguishes between the High Council for Privatization and its Secretariat General, and in conjunction with Law 228, defines the composition, mandate,
governance and mode of operation of each. In 2017, Law 48 regulating public private partnerships granted the HCP the role and responsibilities of the PPP unit, in addition to its
privatization role, and changed its name into the “High Council for Privatization and PPP”.
The Secretariat General’s team consists of economic, financial and legal experts in addition to media coordinators, research, administrative and IT assistants, who are contractually retained based on the requirements listed in the Decree number 5540 dated 23/5/2001. The Secretariat General draws on the expertise of local and international consulting firms experienced in privatization transactions.
The Secretary General, appointed by the Council of Ministers, leads the daily operations and chairs the Secretariat General’s team. He / she seeks to implement the HCP resolutions and performs other duties as assigned to him by the Prime Minister, and issues all necessary decisions to guarantee smooth daily operations, including budget preparation and disbursement of administrative payments. The Secretary General represents the HCP in all correspondence, meetings and fora.
The HCP board is chaired by the Prime Minister and is composed of four permanent members: The Minister of Justice, The Minister of Finance, The Minister of Economy and Trade, The Minister of Labor. On a project by project basis, the Minister responsible for the sector under discussion joins the Council on an ad-hoc basis and becomes a member.
As per Decree number 5540 dated 23/5/2001 (insert hyperlink), the HCP should hold regular meetings, at least once per month, upon invitation by the Prime Minister (in his capacity the Council’s chairman). Quorum requires the attendance of the absolute majority of the Council’s members. In addition, emergency meetings are held whenever necessary upon invitation by the Prime Minister or upon request by three of the Council’s members.
The HCP resolutions are taken by unanimous consent, otherwise, by absolute majority of the HCP members and aim at launching a privatization or PPP project and undertaking the tendering process and involve, among other things, retaining consulting firms and transaction advisors, approving a project timeline, evaluation of assets, preparation of tender documents, prequalifying bidders, proposing preferred bidders, approving negotiation procedures and publishing a beige book disclosing the details of the privatization transaction post completion.
COUNCIL OF MINISTERS
Some of HCP’s strategic resolutions are subject to the approval of the Council of Ministers, such as the general privatization policy and its the implementation timeline, asset evaluation results and privatization tender documents, as well as approving launching the tender for PPP projects and approving the respective tender document.