Human Factor Excluded from the Privatization Process

The privatization process of the public patrimony will be executed transparently and will exclude the human factor. The privatization will be operated via the agency of the Moldovan Stock Exchange (MSE), by means of auctions, through investment contests and direct negotiations. The changes were made recently by several Government decisions, presented by the deputy Minister of Economy and Commerce, Igor Dodon, at a press conference. According to the quoted source, the study, performed by the Ministry of Economy and Commerce (MEC) proved that without revising the present privatization process it will be impossible to continue the structural reforms in economy. So, it was decided to apply some privatization methods grounded on the principle of transparency and excluding the human factor from the decision taking process. The first exposal of the state’s stocks at MSE in 32 companies, inclusively 15 control packages will take place during May 22 – June 9. For all the controlling interests will be elaborated a profile including a short characteristic in Romanian, Russian and English that will be promoted insistently, inclusively through the agency of foreign embassies from Chisinau and of the abroad diplomatic missions of the Republic of Moldova in order to facilitate the access of the potential investors. The nominal value of the exposed interests constitutes 45 milion lei and the starting price of 105 million lei. Of those 32 limited liability companies, 5 are from Chisinau, of which the most important are SA Aprovizelectro, with a statutory capital of 11 million lei, and SA Energoconstructia, with 2 million lei. At these enterprises the state holds 100% of the interests. As Dodon said, these companies are not considered strategic for the state and it does not have money for their development. The deputy Minister of Economy and Commerce informed that at the Governmental meeting on May 3 are to be approved several changes on the State enterprises Law. According to the new stipulations, the state enterprise will have a coordinating council that will examine possibility of paying dividends in the case the enterprises will register some incomes, fact that did not happened previously. According to the information of the Privatization Agency on July 1st 2005, the public patrimony amounted to 43, 6 billion lei, but not all the patrimony is available for sale. The state budget for this year includes privatization incomes of 28 million lei.