PARLIAMENT DEBATES PRIVATISATION OF OIL COMPANY INA

ZAGREB, Feb 28 (Hina) - The Croatian parliament on Thursday afternoon began a debate on a bill on the privatisation of the state-owned oil company INA. The concept of privatisation moved by the government envisages selling 25 percent plus one INA share to a strategic partner. Seven percent of the shares would be given to war veterans without compensation, while INA employees could buy another seven percent under favourable conditions. The government's motion also envisages publicly offering a minimum 15 percent of the company's interest. The government would decide on the sale of the rest in line with conditions on the market. Under the bill, the transport of oil and gas would be exempt from the privatisation of INA, remaining state-owned. Parliament would be in charge of deciding on its privatisation. Economy Minister Goranko Fizulic said that according to its potential INA accounted for almost one third of Croatian economy. The basic goal of INA's privatisation is the establishment of an efficient company capable of equal competition, both in the country and in the region. The integration of a social clause enables former employees to participate in the privatisation, and the Croatian parliament to supervise all stages of the process, MPs in today's debate on the bill agreed. All parliamentary benches agree the process of privatisation must be transparent and that the company must be enabled to protect its identity and be able to deal with competition. The Opposition believes the privatisation of INA is being unnecessarily rushed and brings this in connection with commitments and deadlines agreed on with the International Monetary Fund. (hina) ha/rml sb