GOVT DISCUSSES COUPON PRIVATISATION AND EMPLOYMENT

( Editorial: --> 6845 ) ZAGREB, Oct 8 (Hina) - The Croatian Ministry of Privatisation has completed its work with regard to coupon privatisation, Privatisation Minister Milan Kovac told a Thursday government session. Today the government also discussed a plan and programme for the Croatian Employment Bureau's work through year's end. Kovac said that 11,200 Homeland War victims had taken part in the coupon privatisation individually, while the rest of a total 126,000 did so through seven privatisation-investment funds. A total of 471 companies have been sold, the minister said. It is now up to the Privatisation Fund to sign contracts on the transfer of shares to new owners. Joint stock assemblies will then elect the new owners' representatives into supervisory committees. The funds' worth will be estimated by the Securities Commission, while the central deposit agency will keep their stock records. In the privatisation of socially-owned property US$12.7 billion was allocated for free, including US$2.2 through reductions, US$1.1 through restructuring, US$254 million for invalids, US$2 billion for pension funds, etc., said Minister Kovac. The Fund sold only US$423 million through the stock exchange and open competition. The implementation of the national employment policy failed to meet expectations, said Croatian Employment Bureau director Sanja Crnkovic-Pozajic. The part-financing of employers was too low for better results, she said, adding permanent programmes were necessary. These programmes would offer higher stimulation to employers' and simultaneously stimulate employment in small and medium-sized companies. The new programmes would also significantly reduce bank interest rates for loans to small and medium-sized businesses. One significant way of increasing employment is cooperation with counties and towns in launching public works, Crnkovic-Pozajic said. She added other measures to be applied by year's end included further employment stimulation for unemployed Croatian defenders and the wives of killed and missing defenders. (hina) ha jn 081758 MET oct 98