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Sarajevo Times > Blog > BUSINESS > Opportunity for Foreign Investitors: Novalić announced the Privatization of Several Giant Companies
BUSINESS

Opportunity for Foreign Investitors: Novalić announced the Privatization of Several Giant Companies

Published: June 19, 2015
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Fadil Novalić Announcement faktor.baThe Government of the Federation of Bosnia and Herzegovina listed the companies Aluminijum, ArcelorMittal, Bosnalijek, Energoinvest, Energoinvest Komet, Energopetrol, Tobacco Factory Sarajevo, Sarajevo osiguranje in the category of the companies that are to be privatized. The Prime Minister of the FB&H Novalić Fadil said that it is better to sell the companies as soon as possible, because the government needs the money.

The Prime Minister of the Federation of Bosnia and Herzegovina Fadil Novalić said at yesterday’s press conference that this executive authority of the Federation of Bosnia and Herzegovina puts the reform points on the agenda more aggressively, and pointed out that yesterday a program of work of the Government of the Federation was adopted, which is being done on the basis of the exposé of the Prime Minister.

The Federation Government also adopted the model of the reorganization of the federal government, and as of yesterday began with the reorganization, which implies that 140 federal institutions are to be reorganized, in other words-to unite or abolish 30 of them.

“Today we decided to unite and join first six of them with other authorities. It is primarily the Institute for Agriculture, which is to unite with the Institute of Plant Protection in Agriculture, the Federal Institute for Agropedology and the Federal Institute of Agriculture. All technical services of the three departments would convert into one. The Federal fund for help to the victims of natural disasters will join the Federal Civil Protection Administration. Finally, we decided that the three agencies for privatization, the Agency for privatization, the Agency for passive sub balance and the Agency for the privatization revision are actually the Agency for privatization”, said Novalić.

Novalić pointed out that the aim of the reorganization is cutting the public spending, just as it is the case with the moratorium.

All companies that are owned by the Government of the FB&H, 52 of them, have been classified by the government into three categories, of which there are the strategic ones, 21 of them, which among others include the Elektroprivreda, Railways and some factories of purpose industry which are not losing, as well as the airports, radio operators, mines and banks.

“These companies are according to the new regulation subject to the interests of the Government directly. In some of them we will introduce technical assistance from international financial institutions for restructuring, such as the Railways of the Federation and the mines, since they are losing a lot”, said Novalić.

Second category are companies with difficulties, which has a total of 26 companies and includes Agrokomerc, Binas, BNT factory, Tobacco Factory Sarajevo, Feroelektro, Hidrogradnja, Pretis, Šume and so on.

“We passed a decision to form the Directorate for the companies with difficulties with an aim to restructure or liquidate them through a liquidation bankruptcy”, the Prime Minister said.

(Source: klix.ba)

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