“Serbian Holding” – State Companies to Be Run by Centralized Body

All state companies will be run by one centralized body within the Ministry of Economy, as envisaged in the Draft Law on the Management of Companies Owned by the Republic of Serbia. The parliament will discuss the government’s draft law at its autumn session.

– The establishment of a centralized management of companies will enable the state’s control over all the business entities which are owned by the state – says the state secretary at the Ministry of Finance, Slavica Savcic.

The majority of the companies, she said, will be managed by the Ministry of Economy, but there will be exceptions. The state secretary claims that the criticism, made at the public consultations, that the aim of the changes to the law is to privatize public resources is without basis. Savcic notes that, each middle of the year, companies will file annual reports to the ministry, explaining how they see their operations in the coming year and how they will act in that period.

The new law, she adds, will not apply only to the state entities which are defined with special elements by law.

According to the state secretary at the Ministry of Finance, the new draft law adopted by the government is technically improved, but essentially not different from the previous one, which was withdrawn from the parliamentary procedure in early June.

The plan is for the new regulations to come into effect 12 months from the adoption, so that all the preparatory activities would be carried out.

Vlada Republike Srbije

Ministarstvo finansija Republike Srbije

Government of Serbia

Ministry of Finance

Slavica Savcic

Draft Law on the Management of Companies Owned by the Republic of Serbia