ANKARA - State Minister Yilmaz Karakoyunlu said on Tuesday that they aimed to privatize whole of Turkish Oil Refineries Inc. (TUPRAS) by meeting the maximum demand in the market.
Karakoyunlu, who received International Monetary Fund (IMF) delegation headed by Turkey Desk Chief Juha Kahkonen, said that they would adopt convertible debenture bond model in privatization of TUPRAS.
''That is, we don't have a principle to privatize only 51 percent of TUPRAS. 34 percent of TUPRAS is open to public currently. It will be sufficient to sell 17 percent of remaining shares to privatize the corporation. We are face to face with a demand which will enable privatization of 70-80 percent of the corporation and which will increase numerical values. We are trying to put into practice this strategy by taking these into consideration,'' Karakoyunlu said.