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"Mexico should contemplate the partial privatization of Pemex"

With its debt growing, the president of Bursamétrica, Ernesto O'Farril, says Mexico should contemplate the partial privatization of Pemex, the Mexican energy company. His proposal “considers that the debt of Pemex, as well as the Federal Electricity Commission, would have to be separate on two fronts: unproductive assets and labor liabilities that are left to the government and, on the other hand, projects that may be more attractive for private investors.”

Source: La Jornada

Employees are threatening to strike over a proposal to privatise the power area boards

Employees of the Jharkhand Bijli Vitran Nigam Limited (JBVNL) are threatening to strike over a proposal to privatise the power area boards in Ranchi and Jamshedpur. “JBVNL staff, under the banner of the Jharkhand State Bijli Kamgar Union (JSBKU), took out a massive procession in front of JBVNL's Dhanbad area board office, protesting against the proposal of the Board of Directors' committee. Union leaders also sent a memorandum to chief minister Raghubar Das through the area board general manager in this regard. If the government endorses the proposal, all 5,000 permanent employees of the JBVNL would go on a strike, warned the union leaders. They questioned the rationale behind the proposal to engage private hands in the two top revenue-earning power area boards.” [Hindustan Times, 7 March 2019]

Source: peopleoverprof.it

The government has relaunched a privatization program

After a 15-year hiatus, the government has relaunched a privatization program by floating a minority stake in Eastern Tobacco, a monopoly cigarette maker, on the stock exchange. The state asset sale program was agreed with the International Monetary Fund as part of a $12bn three-year Extended Fund Facility. Public Enterprise Minister Hisham Tawfik says “the government intends to float additional stakes in listed public enterprise companies, including Alexandria Container and Cargo Handling Company, Abu Qir Fertilizers and Chemicals Industries Company, and Heliopolis Company For Housing and Development. An adjusted list of companies active in the industrial, mining as well as energy and petroleum sectors are to be offered in an initial public offering later on in the year.” [bne IntelliNews, 4 March 2019]

Source: peopleoverprof.it

Documents (16)

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Remunicipalization, the Low-Carbon Transition, and Energy Democracy (by Andrew Cumbers)

The term “remunicipalization” has become associated with a global trend to reverse the privatization wave that swept many countries—both industrialized and developing—in the 1980s and 1990s. In particular, remunicipalization processes in the energy sector have the potential to create significant momentum in combating climate change. What is behind these developments?

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Diversifying Public Ownership. Constructing Institutions for Participation, Social Empowerment and Democratic Control (by Andrew Cumbers)

This paper advocates a form of economic democracy based around diverse forms of public ownership. It does not prioritize one particular scale but recognizes the importance of decentralized forms of public ownership, to encourage greater public participation and engagement, mixed with higher level state ownership, for strategic sectors and planning for key public policy goals (e.g. tackling climate change). It takes a deliberately pluralistic definition of public ownership, recognizing both state ownership and the role that cooperatives and employee ownership could play in a more democratic economy.

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Our City, Our Grid: The energy remunicipalisation trend in Germany (By Sören Becker)

This chapter gives an account of remunicipalisations in the German energy sector, and is divided into two main parts. The first section discusses the different factors enabling remunicipalisation. The second section turns to the politics and strategies behind two remunicipalisation cases in Hamburg, contrasting a more consensual and top-down variant of remunicipalisation with one that involved more conflictual public mobilisation and direct democracy.

Multimedia (1)

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Adeniyi Peters Adeyemi, NASU, Nigeria

Listen to PSI Vice-President, Adeniyi Peters Adeyemi, from the Non-Academic Staff Union of Education and Associated Institutions, describe the challenges facing his union: the privatisation of Nigeria electricity services and the Ebola crisis.