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PARL. COMMITTEE OKAYS REPORT ON NEWS AGENCY HINA

ZAGREB, Nov 3 (Hina) - The parliamentary committee on the Constitution,Rules of Procedure and Political System on Wednesday supported,without any discussion, a report on the work of the Croatian NewsAgency (Hina) Steering Council in the period from August 2003 toOctober 2004.
ZAGREB, Nov 3 (Hina) - The parliamentary committee on the Constitution, Rules of Procedure and Political System on Wednesday supported, without any discussion, a report on the work of the Croatian News Agency (Hina) Steering Council in the period from August 2003 to October 2004.

The agency's director, Mirko Bolfek, said that in the last three years Hina had changed models of its financing. The transition was from the model of being financed as a user of the state budget to the model of contractual relations and group subscription as sources of funds.

The aim of this was to generate income on the media market, Bolfek said. The volume of business increased with the agency's own revenue from the media and non-media markets.

The transfers of the agency's founders, the parliament and the government, were frozen at the level of budgetary financing in 2000, namely at 16,185 million kuna.

Last year the agency's revenue and expenditure totalled 31 million kuna as against 27.3 million kuna in 2000.

The positive effect of the three-year-long reorganisation, in which revenues from the media markets increased, totalled eight million kuna, which the agency achieved without raising prices of its services.

It is envisaged that by 2007 the revenue from the sale of Hina's products on the media market will account for over 50 percent of all its revenues, while the share of funds paid by the founders as subscribers is expected to fall below 50 percent.

(1EUR = 7.5 kuna)

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