SUBARA: Deadlines for privatziation of companies to be extended

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Privatization of restructuring companies will not end by May 31 as defined by the Law on privatization when the governmental support should be halted for these companies which is why it is essential to extend deadlines for these companies privatization, the head of the Agency for privatization, Ljubomir Subara said on Tuesday.

If deadlines defined by laws on privatization are not extended, financial collapse measured in billions dinars will present the agency working results, Subara said at the meeting of the assembly Board for trade, presenting the results of the agency work.

Subara pointed out that deadlines extension is essential so that companies would really find buyers and thus finish privatization process in Serbia for good.

Subara said since he was appointed head at the Agency two months ago, four pilot privatization projects were prepared Priboj-based FAP-, Krusik plastike, Aleksa Santic and C market.

The head of the Agency for privatization underlined that it is not about 512 firms for privatization as it is often heard in public but 546, plus some 200 of their liable entities so hat, with previous 512 planned for bankruptcy, the Agency is now responsible for 1.070 firms.

Subara presented data that out of 1.700 interested companies for privatization of these firms, approximately 100 or less than 15 percent are serious and realistic offers.

Subara pointed out at the fact that the work concept at the Agency for privatization is not good and it will have to be completely changed as well as that privatization models are necessary so that as he said “we would move from, zero point and not sell companies anymore and then terminate these contracts, resell them which is why numerous pledges have been lodged before the Agency for Privatization whose account is often blocked”.