ZAGREB, June 7 (Hina) - Premier Ivica Racan has announced that laws on privatisation of the national companies - INA (oil company) and HEP (power industry) - will go into the parliamentary procedure this autumn, while their
privatisation is likely to start in 2002.
ZAGREB, June 7 (Hina) - Premier Ivica Racan has announced that laws
on privatisation of the national companies - INA (oil company) and
HEP (power industry) - will go into the parliamentary procedure
this autumn, while their privatisation is likely to start in 2002.
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Racan, who on Thursday gave a speech at the opening of an
international conference held on the occasion of the 10th
anniversary of the Zagreb Stock Exchange, pointed out the
privatisation of public companies as one of strong prime movers in
the development of the market.
The recovery of the telecommunications sector is being waited for
so that the privatisation of the Croatian Telekom (HT) could be
continued, Premier said explaining that this would enable the
public auction of the HT shares and have a positive impact on the
Zagreb Stock Exchange.
He reminded that invitations had recently been published for
advisors in the privatisation of JANAF (Adriatic Oil Pipeline) and
a leading Croatian insurance company 'Croatia Osiguranje'.
The PM promised that legal regulations pertaining to the capital
market would be improved.
The government's objective is clear: to revive the trade on stock
exchanges, and this should be facilitated by Croatia's bids to come
closer to European structures and to adjust its financial system to
the European one, Racan added.
The government would like to see that foreign investors can invest
in Croatia's securities in an easier, speedier and safer way, and
therefore it is necessary to enlarge the offer of shares on the
financial market, he explained.
Racan called on businessmen, managers and bankers to join the
government in its efforts to carry out reforms, and to offer their
shares on the Croatian stock exchanges.
The Zagreb Stock Exchange is celebrating its 10th anniversary with
a two-day international conference on financial systems and
markets and their importance for the economic growth.
(hina) sb ms