Minister of Finance and Treasury of BiH Vjekoslav Bevanda stated that there is a possibility that a set of laws related to the increase in excise duties on oil and oil products by 15 fenings will be before deputies of the House of Representatives of the Parliamentary Assembly of BiH again next week, after the set was supported by deputies of the House of Peoples.
These laws would ensure the continuation of the arrangement with the International Monetary Fund (IMF), and the increase in revenue after the adoption of these laws would be spent on construction of roads and motorways.
“If these laws are supported in the House of Representatives we will need to get a shift of the deadline, which expired today. It is then on the IMF board to decide whether they will tolerate this delay or not. The Council of Ministers of BiH in consultation with the House of People could submit the laws to the House of Representatives within an hour,” stated Minister Bevanda.
He recalled that the House of Peoples supported the Law on deposit insurance, and he stated that this law is one of the crucial laws. He also expressed his hope that it will get the support of deputies of the House of Representatives as soon as possible since it represents a systemic law.
“This law entirely regulates business operations of the banking sector. It does not just mean the transfer of jurisdiction by any means. The Agency for Deposit Insurance exists and it is the responsibility from the Letter of Intent to the IMF and the Reform Agenda. Due to the fact that 50 % of the law would be changed, the new text of the law was prepared,” noted Bevanda.
The new text of the law was supported by the Board of Directors of the Agency for Deposit Insurance, which is chaired by the Governor of the Central Bank, and it is made of state and entity ministers of finance. This law is regulating the operation of the Agency in a new way, its responsibility with banking agencies and it allows restructuring, in order to avoid the situation when everything comes down to the liquidation and bankruptcy.
(Source: FENA)
