FOUR OPPOSITION PARTIES SLAM PRIVATISATION OF INA

ZAGREB, July 15 (Hina) - The leaders of the Croatian Democratic Union (HDZ), the Croatian Social Liberal Party (HSLS), the Croatian Party of Rights (HSP) and the DC (Democratic Centre) on Tuesday expressed deep concern over the government's intention to sell 25 percent plus one share of the INA oil company to the Hungarian MOL company for US$ 505 million. #L# If it was just the sale of 25 percent plus one share of INA, the offered price would be very favourable. Unfortunately, through two other agreements (on cooperation between INA and MOL, and a shareholders' agreement) the government secured 50 percent of the control mechanism for MOL, the four opposition parties said in a statement issued after their meeting in the parliament building. The statement said that each strategic decision by INA's Managing Board required prior approval from its Supervisory Board, in which one of two members of MOL may block decision-making processes. The four parties demanded that the government put the sale of INA on hold until it explained all elements of the agreement before parliament, because they thought that the price of US$505 million was unfavourable. It all goes to show that the government, pressed by a foreign debt of US$19 billion, a balance of payments deficit of 6.9 percent and a foreign trade deficit of US$ seven billion, is making moves for election purposes which will have long-term negative effects on Croatia, said the statement signed by Ivo Sanader of the HDZ, Drazen Budisa of the HSLS, Anto Djapic of the HSP and Mate Granic of the DC. Parliamentary deputies of the four parties called for INA's privatisation to be included on the agenda of the current parliament session. Parliament president Zlatko Tomcic said the motion would be added to the agenda of one of the sessions after the summer recess, as he did not believe that the issue could be properly discussed at this session, which will wrap up later in the day. (hina) vm sb