ZAGREB, May 18 (Hina) - Croatian Economy Minister Goranko Fizulic accepted a request of unionists for the rehabilitation of NAMA - a chain of stores - and this means that the Government has abandoned plans for bankruptcy procedures
for NAMA, Mario Ivekovic, a union leader, told NAMA workers who on Thursday morning staged a protest rally in front of the Government's offices in Zagreb. After his meeting with Minister Fizulic, Ivekovic said to the protesters that the Government was ready to write off NAMA's debt towards it valued 61 million kuna (7.26 million US dollars). The unionist also informed them of Fizulic's announcements that the Croatian Privatisation Fund (HFP) would offer a contract on the transfer of its shares in NAMA to the 'Privredna Bank Zagreb' (PBZ). In this context he mentioned that the Government had also given up from its earlier condition that in the case of the share transfer the
ZAGREB, May 18 (Hina) - Croatian Economy Minister Goranko Fizulic
accepted a request of unionists for the rehabilitation of NAMA - a
chain of stores - and this means that the Government has abandoned
plans for bankruptcy procedures for NAMA, Mario Ivekovic, a union
leader, told NAMA workers who on Thursday morning staged a protest
rally in front of the Government's offices in Zagreb.
After his meeting with Minister Fizulic, Ivekovic said to the
protesters that the Government was ready to write off NAMA's debt
towards it valued 61 million kuna (7.26 million US dollars).
The unionist also informed them of Fizulic's announcements that the
Croatian Privatisation Fund (HFP) would offer a contract on the
transfer of its shares in NAMA to the 'Privredna Bank Zagreb' (PBZ).
In this context he mentioned that the Government had also given up
from its earlier condition that in the case of the share transfer
the PBZ bank would have to ensure the full employment in NAMA in next
five years. Instead, the Government has set up a new condition to
this bank insisting on that the bank should carry out a
rehabilitation programme drafted by NAMA management.
Ivekovic said Minister Fizulic on Thursday had held talks with the
PBZ Management Chairman Bozo Prka who expressed readiness to
cooperate on the grounds of the Government's proposal.
"We are satisfied as it seems according to today's agreement that
NAMA's bankruptcy has been avoided," Ivekovic said.
After today's meeting, however, the payment of back salaries to
NAMA workers remains questionable. The PBZ and the Privatisation
Fund will try to agree on this matter, Ivekovic announced.
After Ivekovic informed them of the results of talks with
governmental officials, the NAMA workers ceased the protest
rally.
Minister Fizulic notified the Government of the deal with union
leaders.
Above-mentioned decisions can be implemented when the Government
decides on the transfer of the ownership portion and when the PBZ
accepts it, the Economy Minister said adding that in the meantime he
had contacted PBZ Management Chairman Prka who agreed with the
proposal in principle.
What remains unclear is conditions under which the PBZ will grant a
loan for the payment of two back salaries to NAMA employees. Fizulic
advised that workers themselves should discuss this issue with the
bank.
Prime Minister Ivica Racan and one of his deputies, Slavko Linic,
described the proposal as favourable for the workers' demands but
they were reserved about this solution, nevertheless. The
Government will protect workers, but it is another thing that the
feasibility of this project is far away from the reality, Linic
assessed.
Racan cautioned that through proposed solutions NAMA workers
assumed a part of responsibility and that they could no longer stage
protest rallies if possible problems occur about NAMA.
(hina) jn ms