Proposal to study possibility of selling public companies to its employees submitted

An urgent proposal to prepare a study on the possibility of selling 30pc of 50pc or more government-owned companies to its current employees has been submitted today.

The proposal by five MPs led by Ebrahim Al Nefaei would only be applicable on companies that have a capital of at least BD500,000.

The GDN has exclusively obtained a copy of the proposal on its submission to Parliament Speaker Fouzia Zainal today, who will refer it to the relevant committee.

"Turning employees into partners within government-owned companies increases their productivity and gives individual companies more financial resources pumped in as shares," said Mr Al Nefaei.

"The move to sell shares to employees would also give more administrative and financial security within the company, while changing the dynamics from just doing services to being actually involved in the progress of work.

"The study will enable us to explore developing those companies and the work done."

 

Source: http://www.gdnonline.com/Details/896755/Proposal-to-study-possibility-of-selling-public-companies-to-its-employees-submitted

 

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