Al Saleh declines sale of government assets
Al Saleh declines sale of government assets

Abdul Rahman Al Saleh, Director-General of Dubai's Department of Finance ruled out any possibility of selling government assets in the wake of Dubai World Crisis that plunged stock markets across the world. He said that the situation would be better handled by the group through restructuring and sale of some assets of the company.

Al Saleh added, "The main goal of the restructuring of Dubai World is to ensure the continuation of its operation as a viable commercial entity. The question is the future of the company."

Al Saleh said that the crisis evolved due to short-term lending on long-term projects which did not prove effective given to volatile financial environment due to global slowdown. He indicated that the Dubai Financial Support Fund could be extended to Dubai World in the case of extreme urgency.