Greece narrowly avoided defaulting on its huge debt burden last month, after European countries and the International Monetary Fund cobbled together a €110 billion (us$ 161.99 billion) rescue package.
In exchange, the centre-left Government agreed on extensive pension and salary cuts - combined with consumer tax hikes - meant to cut the budget deficit from 13.9 per cent of annual output to 2.6 per cent in 2014.
Papaconstantinou and other ministers did not say when the sales are scheduled and how much money they plan to raise. But Greece has said it wants to raise 1 billion euros per year between 2011-13 through privatisation projects - under commitments made to receive the rescue loans.
"Our estimates are clearly higher...but right now we will stick to the existing target," Papaconstantinou said. "We are in a period where capital markets are down, therefore I will not risk a more specific forecast."
Under the planned sell-off announced this week, the state will retain a 51 % stake in all the companies named in the privatisation bid, and proposes to fully privatise a string of state-owned casinos.
The Government also intends to catalogue and evaluate its extensive real estate assets, with a view to development. "The Greek state owns huge real estate assets, whose precise value has never been calculated," Papaconstantinou concluded.