ATHENS, April 12 (Xinhua) -- Privatization of Greek state-controlled companies could help overcome the serious economic crisis in the country, Athens Chamber of Commerce and Industry (ACCI) President Konstantinos Michalos said on Monday.

Speaking at a press conference, Michalos said the mismanagement, waste of funds, lack of strategic planning and bureaucracy of state companies "add huge financial burdens to tax payers."

Suggesting a drastic and urgent re-evaluation of their role and the Greek state's investment policy, the ACCI head proposed privatization and closure of some of the public-controlled companies.

"The current situation in state-controlled companies cannot continue. We can't ask sacrifices from low income employees, pensioners and small enterprises and let the waste of funds go on," Michalos said.

The Greek government will discuss the privatization program for the next three years during a cabinet meeting on Tuesday.
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