VOL. XXXVII

NO. 33

16-MAY-1994

Financial and Banking News

Economic Policy

King Fahd Expresses Support For Privatizing State-Owned Companies

King Fahd ibn 'Abd al-'Aziz of Saudi Arabia expressed his strong support forprivatization during a speech to students graduating from the King SaudUniversity on 9 May. He said that the cabinet had approved the sale to privatesector interests of the government's share in many state-owned companies. Heindicated, however, that the state would retain an interest...