AMMAN, Jordan, Aug. 10 (UPI) -- Jordan's privatization program has led to 12,000 new jobs, the Executive Committee for Privatization said in a report Tuesday.
The committee said revenues secured from 60 operations of totaled $1.63 billion in addition to $152 million from selling government's shares in 50 companies affiliated with the Jordanian Investment Institution.
The report said the revenues from privatization helped boost Jordan's foreign currency reserves which increased from $691 million in 1996 to $5 billion now.
It said the returns of privatization, which were calculated at the end of June at $1.2 billion, also helped reduce the public debt.
Jordan began its privatization program in 1996 with the government selling most of its shares in key companies, such as telecommunications, transport and cement.
