Government expects answer from CMC over Termocom

The executive on June 14 expects a reaction from the Chisinau Municipal Council (CMC) over its proposal to restructure the companies working in the thermo-energy sector, said Deputy Prime Minister and Minister of Economy Valeriu Lazar, quoted by Info-Prim Neo. The implementation of the plan-procedure (restructuring plan) of SA Termocom, which was declared insolvent by the creditors, started in 2002, but did not produce the expected results, even if the implementation term was extended several times, including by Government Decision last time. According to Valeriu Lazar, Termocom did not become a viable company. On the contrary, it collected new debts. In such a situation, at the end of last year the Government approved a decision on the corporate, institutional and financial restructuring of the centralized heat supply system of Chisinau municipality, which contains a number of measures, including the merger between the thermoelectric plants CET-1 and CET- 2 and SA Termocom. Before the reorganization, an audit is to be carried out at all these companies. Valeriu Lazar said the results of the audit will be presented in three months. Afterward, there will be implemented the new restructuring strategy, if the CMC accepts it. The minister also said that the Council should give its consent as soon as possible as a number of technical and organizational pre-restructuring measures are to be taken besides the audit. SA Termocom has large debts towards the CETs and Chisinau-Gaz. One of the reasons for the accumulation of debts is the fact that the heat charges haven’t been adjusted in time.

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