| المستخلص: |
The study deals with various aspects of the privatization program, as it represents one of the main components of the World bank structural adjustment program. According to Bank, privatization leads to upgrading economic efficiency. In view of the failure of both spontaneous privatization and that based on separating ownership and administration, resorting to privatization in its narrow sense has become indispensable. Privatization, in its narrow sense, is a process whereby ownership of existing public sector institutions, except those having strategic values, is transferred to private sector. Nevertheless, the application of privatization, after long-standing public sector dominance, encountered some difficulties and problems that need to be tackled and solved. As regards to privatization program in Egypt, although the government declared that this process shall not apply to strategic projects, running state-owned assets didn't stop at a certain limit. Hence, privatization had various negative aspects that deeply impacted Egyptian economy. There should be an agreement on which of the public sector projects may be privatized. Moreover, selling such projects to either Egyptians or foreign bodies must be well considered so that national security may not be jeopardized as a result of foreign dominance of important parts of Egyptian economy, as was the case in the cement industry. Concerning the strategic part that will not be subject to privatization, it should be economically run by well-experienced and honest rather than just trustworthy people. Finally, the Egyptian privatization program not only failed to upgrade Egyptian economic efficiency in terms of resources allocation and productivity, but it rather led to increasing foreign hegemony over Egyptian economy in order to integrate it in world economy under the umbrella of economic spaces
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