Paris: French lawmakers definitively approve government privatisation plan amid criticism

The National Assembly, the lower house of France’s parliament, on Thursday approved in a final vote a draft legislation for the government’s plan to offer for sale state stake in several companies amid growing critics of the opposition.

Lawmakers gave the green light to Macron’s executive team to hand some assets to private sector with 147 voted for and 50 against, definitively endorsing the draft.

The bill was rejected by the conservatives-led Senate, as they disapproved the sale of strategic asset of ADP which operates the Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget airports.

Over 200 lawmakers from both the right and left had given support to launching procedures for a national referendum on the issue.

Called “PACTE law” ((Action Plan for Business Growth and Transformation), the legislation aims at raising cash to boost French economy and finance technological innovation. In addition, it will facilitate creation of enterprises mainly by simplifying procedures and allow workers to be better involved in the success of their companies.

Addressing the National Assembly, where French President Emmanuel Macron’s “the Republic on the Move” party holds a strong majority, Finance Minister Bruno Le Maire said “the law is a proof that we can tackle the blockades of our society. It was necessary to tackle the simplification of business creation, the social thresholds, the financing conditions of our economy, to remove the obstacles to growth.