PRESIDENT MESIC RECEIVES PRIVATISATION FUND DELEGATION

ZAGREB, June 19 (Hina) - Croatian President Stipe Mesic on Monday received a delegation of the Croatian Privatisation Fund headed by president of the fund Hrvoje Vojkovic. The delegation informed the Croatian President of results of the analysis of fund's portfolios and the strategy of the future privatisation. The delegation also informed the President of the problem of 300 companies owned by the state which are to go bankrupt due to insolvency and which are creating the debt of about 7.5 million kuna (DM1.9 million) each day. They also discussed the sale of stocks of about 800 companies owned by the fund, which is to take place after the passing of amendments to the privatisation law. Several companies will be sold for a symbolic amount of 1 kuna without any other obligations, namely companies whose basic capital is not greater than 25 percent, and state owned companies which realise profit. The companies will be privatised in urgent proceedings, Vojkovic said. When asked whether they discussed the privatisation of state owned media, Vojkovic told reporters the main assembly of Zagreb daily "Vjesnik" was held today and a decision on the recapitalisation would be passed. Also, a bid for tenders will be announced. The best tender will gain over 50 percent of the daily. The entire process will be transparent and in line with international standards, Vojkovic said. (hina) it mm