The government’s privatisation programme “continues to gain traction,” the Ministry of Culture and Information said in a statement.
Vast wealth and the promise of dramatic change make for cautious optimism concerning Saudi Arabia, the chief executive…515 Views | the publication reaches you by | Saudi Arabia Today
“The IPO process is well underway and Saudi Aramco remains focused on ensuring that all IPO-related requirements are completed on time and to the very highest standards,” it said.
The statement comes after an official document seen by Bloomberg News showed that authorities are redrafting the National Transformation Program, a plan to overhaul the kingdom’s government and economy as it grapples with low oil prices.
The revamp won’t change key fiscal or energy-related targets, according to the document, but it’s needed to match it with Crown Prince Mohammed bin Salman’s broader Saudi Vision 2030, which includes a separate programme for the Aramco IPO.
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