In statements to Asharq Business on Tuesday, Kouchouk explained that the government is focused on offering companies to the private sector in pharmaceutical and chemical industries, and building and construction; lowering its shares in electric power plants; and providing opportunities to the private sector for investing in four other sectors.

The state has generated $3.1 billion in revenues from the IPO program since March 2023, said Kouchouk.

The IPO program, launched in February 2023 under the State Ownership Policy Document, initially aimed to offer 35 governmental companies to investors to generate $5 billion in revenue.