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REPUBLIC OF TURKEY PRIME MINISTRY PRIVATIZATION ADMINISTRATION oib.tr OECD

REPUBLIC OF TURKEY PRIME MINISTRY PRIVATIZATION ADMINISTRATION www.oib.gov.tr OECD Privatization Network and Advisory Group on Privatization 18-20 SEPTEMBER, 2000 BUDAPEST. AN OVERLOOK TO TURKISH STATE ASSET MANAGEMENT.  TURKEY ’S CURRENT PRIVATIZATION PROGRAMME

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REPUBLIC OF TURKEY PRIME MINISTRY PRIVATIZATION ADMINISTRATION oib.tr OECD

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  1. REPUBLIC OF TURKEY PRIME MINISTRY PRIVATIZATION ADMINISTRATION www.oib.gov.tr OECD Privatization Network and Advisory Group on Privatization 18-20 SEPTEMBER, 2000 BUDAPEST

  2. AN OVERLOOK TO TURKISH STATE ASSET MANAGEMENT

  3. TURKEY’S CURRENT PRIVATIZATION PROGRAMME IS UNDERTAKEN BY THREE ( 3 ) DIFFERENT GOVERNMENT AGENCIES:

  4. AGENCIES WHICH CARRY OUT THE PRIVATIZATION PROCESS IN TURKEY ÖZELLEŞTİRMENİN FELSEFESİ PRIVATIZATION ADMINISTRATION RELATED REGULATION: LAW NO: 4046 SEEs, ORGANIZATIONS, MAJORITY OF SHARES OF WHICH ARE OWNED BY THE STATE THAT ARE NOT UNDER THE STATUS OF SEE, STATE OR TRAESURY SHARES IN PARTICIPATIONS/ AFFILIATES, ASSETS OR PARTICIPATIONS OF THE ADMINISTRATIONS WITH NATIONAL AND SUPPLEMENTAL BUDGETS WHICH ARE NOT DIRECTLY RELATED TO PUBLIC SERVICES. MINISTRY OF ENERGY RELATED REGULATION: LAW NO: 3096 PRIVATIZATIONS RELATED TO PRODUCTION, TRANSMISSION AND DISTRIBUTION OF ELECTRICITY. TURK TELEKOM (TTAŞ) TENDER COMITTEE RELATED REGULATION : LAW NO 4161(IN ADDITION TO THE LAW NO.406) TURK TELEKOM PRIVATIZATION IS CARRIED OUT BY AN INDEPENDENT A TENDER COMMITTEE CHAIRED BY PRIVATIZATION ADMINISTRATION COMMISSION EXPENSES ARE COVERED FROM THE PRIVATIZATION FUND.

  5. ENERGY PRIVATIZATION • presently governed under Law 3096 by Ministry of Energy • models used: BOT and Transfer of Operating Rights • ongoing preparations for a new electricity market law to restructure the energy sector

  6. TRANSFER OF OPERATING RIGHTS Power Plant or Distribution Facility Tender Draft Concession agreement submission for review Danıştay (Council of State) Assignment by Council of Ministers Concession agreement with the Ministry of Energy and Natural Resources -ESA/EPA (TEAŞ) -Transfer of Assets Primary Energy Procurement Contract Agreement with the Energy Fund

  7. BOT MODEL Application High Planning Council Ministry of Energy Approval of The Project Draft Concession Agreement submission for review Danıştay (Council of State) Tender and Assignment Concession Agreement with the Ministry of Energy and Natural Resources Agreement between Assignee and the Energy Fund Primary Energy Procurement Contract -ESA/EPA between Assignee and TEAŞ

  8. TURK TELEKOM (TTAŞ) PRIVATIZATION PROCESS The legal framework for the privatization of Türk Telekomünikasyon A.Ş. (TTAŞ) was established with the Law No: 4161 enacted on 01.08.1996. Under the provisions of the law governing TTAŞ’s privatization, an independent Tender Committee consisting representatives from • Privatization Administration (CHAIRMAN) • Undersecretariat of Treasury • Ministry of Transportation • Capital Markets Board • TTAŞ has been established to execute the sale. Tender procedures are carried out by the Privatization Administration.

  9. PRIVATIZATION LAW No:4046 The major law covering privatization activities in Turkey • describes state assets that may be subject to privatization under this law • provides adequate framework / funds / mechanisms for privatization • establishes Privatization High Council, Privatization Administration and Privatization Fund • establishes a social safety net for workers who lose their jobs as a result of privatization

  10. PRIVATIZATION BODIES UNDERLAW No:4046 • Privatization High Council (PHC) • Privatization Administration (PA) • Privatization Fund (PF)

  11. PRIVATIZATION HIGH COUNCIL (PHC) • ultimate decision making body • a subset of Council of Ministers • consists of the following 6 Ministers: 1) Prime Minister (Chairman) 2) Deputy Prime Minister 3) State Minister responsible from Privatization 4) State Minister responsible from Treasury and economic affairs 5) Minister of Finance 6) Ministry of Industry and Trade • decides to take state assets in or out of privatization portfolio • decides the method of sale • approves privatization transactions

  12. PRIVATIZATION ADMINISTRATION (PA) • the execution organ for privatization under Law 4046 • has public legal entity and an exclusive budget • executes decisions of PHC • advises PHC in their decisions regarding transfer of assets into privatization portfolio, needs of restructuring or rehabilitation • manages the privatization fund

  13. PRIVATIZATION FUND (PF) • managed by Privatization Administration • proceeds generated from sale of shares, securities or other negotiable instruments are allocated to this fund • used for restructuring / rehabilitation and capital increases of state owned companies, privatization expenses, social safety net expenses

  14. PRIVATIZATION METHODS

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