ZAGREB, July 12 (Hina) - The Croatian National Sabor's House of Representatives on Wednesday morning started its sixth irregular session by a discussion on amendments to the law on privatisation, which motion measures for an
accelerated privatisation. At the beginning of the session, two new items were included in the agenda, namely a report of the investigation commission on the circumstances of the sale of Croatia's daily "Vecernji List" and a motion for relieving the current director of the Croatian News Agency (Hina) and the appointment of the new one. Elaborating bills of amendments to the law on privatisation, Croatian Economy Minister Goranko Fizulic said privatisation in Croatia failed to accomplish expected positive effects. The economic growth was not initiated, the employment was not increased, companies were not modernised, and many of them went bankrupt, Fizulic said. Due to this, many small stock hol
ZAGREB, July 12 (Hina) - The Croatian National Sabor's House of
Representatives on Wednesday morning started its sixth irregular
session by a discussion on amendments to the law on privatisation,
which motion measures for an accelerated privatisation.
At the beginning of the session, two new items were included in the
agenda, namely a report of the investigation commission on the
circumstances of the sale of Croatia's daily "Vecernji List" and a
motion for relieving the current director of the Croatian News
Agency (Hina) and the appointment of the new one.
Elaborating bills of amendments to the law on privatisation,
Croatian Economy Minister Goranko Fizulic said privatisation in
Croatia failed to accomplish expected positive effects. The
economic growth was not initiated, the employment was not
increased, companies were not modernised, and many of them went
bankrupt, Fizulic said.
Due to this, many small stock holders stopped paying the
instalments for stocks.
In order to accelerate the privatisation, the Government motions
that an additional discount of 80 percent to the unpaid part of
stocks and another 50 percent discount if the instalment is paid in
cash at once, be offered to small stock holders.
In order to gain better control, greater transparency of business
activities and a unique presentation on the market, the Government
motion the joining of all stocks owned by the Croatian
Privatisation Fund, the Pension and Health Funds and the state
agency for the protection of savings and the financial
reconstruction of banks, in a unique state portfolio managed by the
Croatian Privatisation Fund, said Fizulic.
In order to accelerate the privatisation, the Government also
proposed new ways of the sale of stocks from the portfolio,
including the sale of companies heavily in debt for a symbolic price
of one kuna, said Fizulic.
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