CLS: Damage from Removal of Conversion to Amount to Several Billion Euros

The damage to local self-governments’ budgets from removing the obligation of conversion in the process of the sale of companies through privatization or bankruptcy proceedings will amount to EUR 3 to 5 billion, stated Nikola Jovanovic, the director of the Center for Local Self-Government (CLS) and former city councilor.

– The main motive for the current authorities for now removing the obligation of conversion, through the new Law on Planning and Construction, is the land of the former IMT factory – said Jovanovic, according to the press release of the CLS.

Grad Beograd

Centar za lokalnu samoupravu Beograd

City of Belgrade

IMT

Center for Local Self Government

CLS

Nikola Jovanovic

removal of the obligation of conversion

removal of conversion

conversion

Law on Planning and Construction