Tunisia proposes to sell its shares in the Nouvlair airline company

Tunisia proposes to sell its shares in the Nouvlair airline company ...

Tunisia on Friday offered for sale its shares in the Nouvlair airline company, confiscated from a son-in-law of late President Zine El Abidine Ben Ali, who was killed in the 2011 revolt, according to Karama Holding Company.

The last day of receiving offers is the May 19th at 17:59 local time (1500 GMT).

After the revolution, Karama Holding Company is entrusting the company to dispose of the property that Ben Ali has been given away.

The Tunisian state is holding 235 percent of the shares in Nouvlair. It was previously owned by Belhassan Trabelsi, Ben Ali's son-in-law, who fled the country following the revolution, but the state confiscated them among several real estate and other properties.

The sale of shares in several companies and banks is one of the goals the Tunisian government has made to the International Monetary Fund (IMF) in order to qualify for more financial aid.

Tunisia, which is experiencing its worst financial crisis, is trying to reach an agreement with the International Monetary Fund (IMF) in exchange for unpopular reforms, including subsidy cuts and sell-offs of several state-owned businesses.

Reforms to reduce expenditure on state-owned firms, subsidies, and the state payroll have been asked by the IMF, but the powerful UGTT union has rejected this approach at a time of high unemployment and threatened to initiate a general strike.

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