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MPs on final report on audits of privatisation processes

ZAGREB, Feb 3 (Hina) - All parliamentary parties supported on Thursdaythe final report of the State Audit Office on audits of ownershiptransformation and privatisation processes, which states thatobjectives set by the law were not accomplished in privatisation andtransformation processes in the 1990s.
ZAGREB, Feb 3 (Hina) - All parliamentary parties supported on Thursday the final report of the State Audit Office on audits of ownership transformation and privatisation processes, which states that objectives set by the law were not accomplished in privatisation and transformation processes in the 1990s.

The report covers 1,556 companies of which only 241 (15.4 percent) realised the objectives set by development programmes, while 319 privatised companies only partially realised the set objectives.

At the time of audit, the stock capital of those 1,556 companies was reduced by EUR480 million in relation to the time before the privatisation.

The report points to a significant reduction in the number of employees in the transformation process. Auditors have established that the number of those on the payrolls of the 1,556 companies was slashed by 60.86 percent from 635,373 in late 1991 to 248,698 at the time of the audit.

Parliament will resume the debate on the report on Friday.

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