Portuguese opposition criticises government privatisation fury

Socialist leader Antonio Costa has criticized the Portuguese government for its "privatizing fury," Lusa News Agency reported.

The government's privatization program was a "dangerous mistake," Costa told a Socialist Party meeting in Sintra, around 25 km northwest of Lisbon, on Saturday.

"One of the things that distinguishes us from the right-wing coalition is that we believe in a strong state," he said. "It's not about privatizing that which should be maintained, it is about being liberated from what is not needed."

Costa said that although the country's agreement with the troika of international lenders foresaw a revenue of 4 billion euros (4.4 billion U.S. dollars), the government had already made around 8 billion euros (8.8 billion dollars) from privatization.

Portugal's privatization program was required by a 78-billion-euro bailout agreement the country signed in 2011 with the troika of European Central Bank, the International Monetary Fund and the European Commission.

Since then the country has sold stakes in airport operator ANA, power firm EDP and postal service CTT, among others.

The sale of airline TAP is expected to be concluded by June, before the country's general elections in October.