Milei's government announced that the process of privatizing AySA has begun.

Presidential spokesperson Manuel Adorni announced this Friday during the press conference at Casa Rosada that Javier Milei's government will begin the process to privatize Agua y Saneamientos Argentinos (AySA), in which 90% of the company's shares will be put up for tender, retaining the current employees.

"First of all, I want to inform you that the national government has decided to initiate the privatization process of AySA," Adorni announced, and detailed: "This way, private capital will be incorporated through the transfer of 90% of the company's shares, which are currently held by the State."

According to the presidential spokesperson, this will be done "through a mixed scheme, which combines a national and international public tender to select a strategic operator and an initial public offering to open the company's capital to other investors."

"Additionally, this proposal includes the continued participation of the company's employees as AySA shareholders, within the currently existing employee stock ownership program, which represents 10% of the company's share capital," Adorni added, clarifying the situation of the employees looking ahead.

Subsequently, the official reviewed the history of the company in the privatization process: "Since its renationalization in 2006, AySA has required ongoing contributions from the national Treasury, totaling more than 13.4 billion dollars through 2023," which reflects the company's enormous deficit.

"The workforce grew by 90% during state management and the delinquency rate among users reached 16% when it used to average 4%," Adorni revealed, showing Kirchnerism's schemes with public employment.