SARAJEVO, Nov 12 (Hina) - The largest number of Bosnian companies, which were privatised through the sale of share certificates, i.e. the hand-out of those certificates to citizens in the wake of the war, will go bankrupt in 2003,
said the head of the Privatisation Agency in the Federation of Bosnia-Herzegovina.
SARAJEVO, Nov 12 (Hina) - The largest number of Bosnian companies,
which were privatised through the sale of share certificates, i.e.
the hand-out of those certificates to citizens in the wake of the
war, will go bankrupt in 2003, said the head of the Privatisation
Agency in the Federation of Bosnia-Herzegovina. #L#
The Croat-Muslim entity's privatisation agency head, Resad Zutic,
was quoted by the press on Tuesday as saying that most companies
where the "paper privatisation" had been carried out, would in the
coming months go into liquidation, as they would have no money for
the manufacturing.
Upon the completion of the so-called privatisation on a mass scale
when certificates had been handed out to citizens, 765 out of 1,031
companies, listed for privatisation, were sold. In the entire
process over 5.7 billion convertible marks remained unused as
securities.
"Every second company sold in the mass-scale privatisation is owned
by citizens and funds that have not enough money to cover debts and
re-start businesses," Zutic was quoted by the Oslobodjenje daily as
saying.
(hina) ms