A senior Dubai official says the city-state’s indebted Dubai World conglomerate, but not the government itself might sell assets to raise cash.
Dubai Finance Department Director-General Abdul Rahman al-Saleh made the comments in an interview posted on al-Jazeera’s Web site Monday.
Al-Saleh did not identify what parts of Dubai World might be up for sale. The group has a wide range of businesses scattered throughout Dubai and around the world.
Dubai is in the process of restructuring the sprawling state-backed company as it struggles to pay back billions of dollars in debt coming due.
The finance chief said the primary aim of restructuring the state-backed company was to ensure it remains viable for the future.