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From corruption to efficiency: Raed Khoury's plan to empower the private sector

Press Highlights

16-05-2023 | 02:46

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From corruption to efficiency: Raed Khoury's plan to empower the private sector

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Former Economy Minister Raed Khoury has criticized the state's evasion of responsibility and refusal to acknowledge the indebtedness to the Banque du Liban (BDL) and commercial banks over the years. He argues that the state presents misleading and suspicious numbers when proposing solutions.

However, Khoury emphasized that transferring the management of vital institutions to the private sector would enhance their performance and distance them from corruption, waste, inefficiency, and political appointments. He explained that many institutions could benefit from this approach, including the Port of Beirut, for example.

This article was originally published in and translated from Lebanese newspaper Al-Joumhouria.

Khoury pointed out that the best response to the concerns of the International Monetary Fund (IMF) or those who reject such a proposal lies in the practices of several countries that have adopted the policy of involving the private sector in state facilities and succeeded.

In addition, he especially highlighted the condition set by the state for investors to allocate a percentage of their profits, increase the value of properties, and generate revenues.

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