Three rounds to privatize state property will be held this March and June and at yearend, Minister of Economy Octavian Calmac told a news conference, quoted by IPN.

“There will be privatized assets that were exhibited for sale the previous years and remained unsold, but the selling price will be reduced by ensuring the necessary transparency (reduction cap is of 5%, but some of the assets put up for sale remained non-privatized – e.n.).  These will be mainly sold through the Moldova Stock Exchange. The more sensitive facilities will be privatized through individual projects. Therefore, we will ask foreign experts to help us implement the best practices in the field and to determine their market value,” stated Calmac.

The earnings from privatization are primarily used to cover the budget deficit.

In another development, the minister informed that the Ministry of Economy reviewed the draft law on state-owned and municipal enterprises that was sent back by Parliament. The adoption of this law is envisioned in the memorandum signed by the Government with the IMF, whose first mission is expected to come in February. “In the reviewed variant, the law will provide that all the state-owned companies or companies in which the state has controlling interest will be restructured during five years,” said Calmac.

The companies will be restructured by increasing their efficiency. There are about 450 state-owned companies and companies in which the state has controlling interest. Some of them sustain losses during many years in a row.