Jul 17 2018

Turkish president and son-in-law given privatisation powers

Turkey’s president and finance minister have both been given the power to privatise state assets with a new presidential decree, opposition newspaper Cumhuriyet said.

The new decree, on the topic of “Institutions and Organisations Part of, Linked to and Related to Ministries and the Organisation of other Institutions and Organisations” gave President Recep Tayyip Erdoğan and his son-in-law, Treasury and Finance Minister Berat Albayrak, the power to issue orders to the Privatisation Administration Department (ÖİB).

Previously, the ÖİB was instructed by a council on privatisation chaired by the prime minister.

Turkey’s Social Security Institution was also reformed by the decree, with the president now determining its policies and strategies.