ZAGREB, Nov 3 (Hina) - The Croatian Government at its Friday's session passed a conclusion in line with which supervisory committees and management boards should be replaced in companies mostly owned by the state with poor business
activities. The government passed the conclusions after a discussion on a report of the Croatian Privatisation Fund on managing state portfolio, referring to 841 companies with over 81,000 employees. The government will forward the report to the Croatian national parliament to be discussed. The Government put in charge the Croatian Privatisation Fund for the substitution of members of supervisory committees and management boards of companies included in the state portfolio. According to the analysis of companies owned or partially owned by the state, it is necessary to start bankruptcy proceedings in 321 companies in order to maintain as many jobs as possible. Of 11,400 emplo
ZAGREB, Nov 3 (Hina) - The Croatian Government at its Friday's
session passed a conclusion in line with which supervisory
committees and management boards should be replaced in companies
mostly owned by the state with poor business activities.
The government passed the conclusions after a discussion on a
report of the Croatian Privatisation Fund on managing state
portfolio, referring to 841 companies with over 81,000 employees.
The government will forward the report to the Croatian national
parliament to be discussed.
The Government put in charge the Croatian Privatisation Fund for
the substitution of members of supervisory committees and
management boards of companies included in the state portfolio.
According to the analysis of companies owned or partially owned by
the state, it is necessary to start bankruptcy proceedings in 321
companies in order to maintain as many jobs as possible. Of 11,400
employees, it is estimated that 7,000 jobs will be saved after the
reorganisation in the companies, Deputy Prime Minister Slavko
Linic said, adding that 4,500 jobs were lost. The liquidation
process must be conducted in 60 companies, and the bankruptcy
proceedings are most likely to end in the form of liquidation in 95
companies.
The second group of companies from the state portfolio with
problems includes 181 company with significant difficulties in
business activities. An accelerated privatisation, namely
financial consolidation is necessary in those companies or else
they will go bankrupt. Those companies employ over 31,700 workers.
The third group includes 339 companies with a total of 38,000
workers, of which 229 companies are conducting business activities
without greater difficulties, while the others were placed in the
special state care regime - 90 companies from the field of tourism,
8 agricultural-industrial multi-plant firms and ten industrial
companies undergoing the financial reconstruction.
The government obliged competent ministries to ensure salaries for
workers of the second and third groups of the society, and who are
not receiving their salaries. The Croatian Privatisation Fund was,
at the same time, told to prepare motions on the ways of their
privatisation by the end of the year.
The Government also endorsed a conclusion that decisions on the
transformation be prepared by year's end for all the companies
which failed to undergo the transformation process so far.
(hina) it jn