The Holding Companies (HCs) were created in 1991. The ownership and management of 314 public sector companies were transferred from the various ministries to 17 Holding Companies. The portfolios of these HCs were designed to eliminate sectorial monopolies, introduce competition, and ensure that each HC had an array of enterprises with differing profitability and sale potential. HCs are primarily responsible for organizing the sale of their constituent state-owned enterprises (known as affiliated companies).
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