SERTIC: Bankruptcy for 188 companies from privatization list

(Zeljko Sertic)

The minister of trade at the Government of Serbia, Zeljko Sertic, said that out of 512 companies which are looking for a new owner through the Agency for Privatization, 188 will go bankrupt, while sale for 90 of them was halted, it was published at the website of the Government.

In his interview for Tanjug agency, Sertic said this was comprised within the action plan which should be adopted at the meeting of the Government of Serbia and added that in 188, some 5000 work.

Bankruptcy is for these companies only "legal formulation", the minister outlined and added that serious cash inflow is not expected from these companies ‘privatizations.

According to him, the largest number of these companies has not had business activities for a long time and in formal and legal sense they have not been shut down since we did not have model to do so. Now, practically, bankruptcy is the way to shut down the companies which generate negative balance and do not exist in real life, it was added at the website of the Government.

Sertic explained sale was halted for 90 companies which have either been under some judicial procedure or they have been returned to someone.