Executive Committee on Privatisation


Office of the Prime Minster
Reykjavík, 14 February 1996

Mr. Hreinn Loftsson
Sunnuflöt 15

The Government has decided to appoint an Executive Committee on Privatisation, Management Contracting and Sales of Government Assets, which will report to the Ministerial Committee on Privatisation.

The objective of the Government with privatisation, management contracting and sales of government assets is to reduce the scope of government enterprises, improve the efficiency of public activities and thereby make better use of the funds available to the government, encourage the growth of the domestic stock market and improve the financial position of the State Treasury.

Pursuant to the above, the role of the Executive Committee on Privatisation is the following:

v To take responsibilty for the co-ordination and management of the privatisation of state enterprises, including the sale of state interests in companies. In its work, the Committee shall observe the rules of procedure on the implementation of privatisation measures approved by the Government.
v To encourage outsourcing of government operations and services and thereby transfer projects from the public to the private sector.
v To conduct a systematic survey of State assets, particularly real estate, building sites, land and farmsteads, and submit proposals on government policy reagarding the sale of such assets with the objective of reducing management and operating costs and generating revenues for the State Treasury.

The Committee shall seek to appoint liaisons in individual ministries and work in close co-operation with them.

The Committee shall prepare a work schedule and timetable for the above projects during the election term, to be submitted to the government and published at the beginning of each year. The schedule shall be prepared for one year at a time.

You are hereby appointed Chairman of the Committee. Other members of the Committee are Mr. Steingrímur Ari Arason, nominated by the Minster for Finance, Mr. Jón Sveinsson, nominated by the Minister for Foreign Affairs, and Mr. Sævar Þ. Sigurgeirsson, nominated by the Minister for Trade and Industry. Mr. Skarphéðinn Steinarsson, Head of Department of the Ministry of Finance, will be at the service of the Committee as an employee.

Davíð Oddsson

/Guðmundur Árnason