The Public Property Agency will have the status of central administrative authority, IPN reports, with reference to a Government decision approved on October 11. Thus, the institution will directly obey the Government, not the Ministry of Economy and Infrastructure as now, IPN reports.

Among the Agency’s powers will be to manage the property of the state, to denationalize public property and to ensure the observance of the property rights and interests of the state. It will also monitor the fulfillment of the obligations by business entities that purchase public property in the post-privatization period and will coordinate public-private partnership projects.

The Public Property Agency will suggest candidates for the post of manager of state-owned enterprises or commercial organizations with public or primarily public capital with over 100 employees and an annual average turnover of at least 20 million lei for the past three years.

Also, the Agency will work out the corporate governance model for state-owned enterprises or those with primarily public capital and will agree the criteria for determining the monthly salary of the members of the administration boards of state-owned enterprises, representatives of the state in joint stock companies with public capital and members of censors commissions.

The restructuring of the Public Property Agency forms part of the central public administration reform.