Erdoğan signs, critical privatization decision enters into force: To be used in defense industry projects

In accordance with the decision published with Erdoğan's signature, 54 state-owned properties have been included in the scope of privatization, with the revenues to be generated intended for use in defense investments.

In the process to be carried out by the Privatization Administration, it is aimed that the revenue obtained from the sale of the properties will be used directly in defense industry projects. The decision has entered into force after being published in the Official Gazette.

ENTERED INTO FORCE

The following statements were included in the decision numbered 11106, published in the Official Gazette dated Thursday, March 26, with the signature of President Tayyip Erdoğan:

“Decision on the Inclusion of Certain Properties Registered in the Name of the Treasury and the Structures Thereon into the Scope and Program of Privatization; Their Privatization Through One or More of the Methods of Sale, Leasing, Revenue Sharing Model, Other Legal Dispositions Appropriate to the Nature of the Work, Establishment of Rights in Rem, or Granting of Operating Rights; Completion of Privatization Transactions by 31/12/2028; and the Transfer of the Revenue to be Obtained from Privatization to the Treasury, After Deducting Expenses, to be Used by the Ministry of National Defense for the Construction of Buildings, Facilities, and Lodgings, for Activities in the Construction Program Included in the Strategic Target Plan Annual Program, and for the Ministry's Investment Program.”

News Source: 12punto