CAIRO: Debate surrounding the proposal to involve the public in the management of public assets, known as sukuk, continues.
The proposed program was discussed by the National Democratic Party’s (NDP) during its annual conference earlier this month.
According to the proposal, all Egyptians over 21 will receive free shares in public sector companies.
Meanwhile, activists from all ends of the political spectrum believe the new proposal to distribute the shares of government-owned companies to individual citizens to be a prelude to mass privatization and the succession of the presidency from Hosni Mubarak to his son Gamal.
Their campaign aims to combat the proposal off-hand even though details about which stakes are going to be distributed have not yet been revealed.
According to members of the opposition, this move will “further increase the state of monopoly in Egyptian markets, since the free shares will eventually be sold to established investors in easily-attainable deals.
The opposition campaign is led by Abdel Gelil Mostafa, coordinator of Kefaya, and assistant coordinator George Ishaq, Aboul Ezz El-Hariry, former vice president of the Taggamu party, MP Hamdine Sabbahy and deputy founder of Al Wasat party Aboul Ela Mady.
A Facebook group was also created under the name “Abl Ma Takhod Al Suk E’raf Ha’ak Latitsak (Know Your Rights Before You Get Duped) aimed at raising people’s awareness about the drawbacks of privatization.
“Before accepting the sukuk you should know that if you accept [the shares] you will not only give up your rights but also your children’s rights, according to the boycott call publicized on Facebook.
According to Ishaq, their goal is to build a national alliance against the new proposal and encourage political parties to boycott the drive.
Citizens should refuse any shares given to them which, Ishaq says, will mark the first step towards “civil strife.
“We hope to receive 1 million signatures in a petition that will be presented to parliament, he added.
Ahmed Maher, coordinator of the April 6 Movement, pledged to organize demonstrations against the draft law alongside the electronic-based campaign on Facebook.
