Turkey Transfers Operating Rights to Private Companies

In an effort to reduce the country’s reliance on energy imports, Turkey’s Energy Minister Fatih Donmez has transferred the operating rights of seven high-potential coalfields to private companies, Reuters reported. Once a darling of foreign investors, Turkey’s energy sector, which relies almost entirely on imports, has been hit by a sharp decline in the lira. The currency has lost nearly 40% of its value this year, sparking worries over its impact on the wider economy and the banking sector.
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