The move is among the innovative mechanisms that the ministry introduced in the 2020 Finance bill.
Rabat – The Moroccan Minister of Economy and Finance, Mohamed Benchaaboun, announced that the Moroccan Pension Fund (CMR) will buy five university hospital centers (CHU). Benchaaboun has not disclosed the hospitals’ names. Benchaaboun made the announcement at a press conference on November 5.
The move comes as part of a series of innovative mechanisms introduced in the 2020 Finance bill. The operation will generate MAD 4.5 billion for the state, money that will go back into the state spending budget.
The mechanisms are required to finance 15% of investments in the general state budget as stipulated in the 2020 Financial bill. The financial practice is called privatization and is common in many industrialized countries.
In practical terms, this means that the CMR will buy the CHU and rent them to the Moroccan state for public use.
The memorandum of understanding was signed a few days ago, reported Moroccan news outlet Medias24.
The innovative mechanisms will also concern the privatization of other state-owned facilities. Medias24 believes that the port of Safi will be among the first privatizations.