Gov’t sets up Department for Privatisations and State Shareholdings Administration

The Government on Wednesday passed an emergency ordinance establishing the Department for Privatisations and State Shareholdings Administration, the Government’s Press Office reports.

The measure was taken in order to increase efficiency of privatisations, develop the business of Government-run companies under profitability conditions, exercise the rights and meet the obligations arising from the Government’s shareholdings in business operators, as well as to amend and supplement some pieces of legislation.

The Department for Privatisations and State Shareholdings Administration will take over form the State Industrial Shareholdings and Privatisation Office (OPSP), the Energy Department as well as form other ministries, public organisations and authorities involved in privatisation preparations and conduct the funds earmarked for privatisations to their accounts, reads the fundamentals of the emergency ordinance.

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