RIYADH, Nov 12: In a bid to reform the economic structure of the country, Saudi Arabia has announced sweeping plans to privatize 20 vital economic sectors, including telecommunications, civil aviation, desalination, highway management, railways, sports clubs, municipality services, health services and hotels.

Sectors to be privatized include water and sewage department, construction of highways, airport services, postal services, grain silos and flour mills, seaport services and industrial city services.

It was also announced after the weekly cabinet meeting that the government would sell its shares in joint stock companies, including Saudi Basic Industries Corporation (SABIC) and Saudi Telecom. Construction and maintenance of educational buildings, printing of educational books, school transportation and students housing, renting and operation of schools and university facilities will also be privatized in due course, it was announced here.

The privatization will also cover state shares in Saudi Electricity Company (SEC), Saudi Arabian Minerals Company (Maadin) and local petroleum refineries as well as capital investments in Arab and Islamic joint companies.

It was also clarified that construction and management of abattoirs, gardens and recreation centres, cleaning and garbage disposal services will also be transferred to the private sector. Currently the government is responsible for providing all these services at nominal costs.

The privatization list includes operation and management of social service centres, Saudi employment services, agricultural services, establishment of health facilities and transportation of patients facility.

The cabinet approved the privatization list on the recommendation of the Supreme Economic Council (SEC) headed by Crown Prince Abdullah. It was earlier announced that the Supreme Economic Council would be the overall incharge of planning and implementing the Kingdom’s privatization drive.

The SEC was thus asked to “specify the activities to be privatized” and set out a strategic plan and timetable for the privatization programme.

The SEC has now also been entrusted with the task of supervising the privatization activity and to take all necessary measures to complete the process as per the rules and regulations.