PM wants to sanction heads of companies where state has shares and which admit losses

The Prime Minister asks sanctioning or dismissing the administration of the companies where the state has participation shares and which admit losses. The profit of the companies where the participation share of the state in the social capital exceeds 50%, have registered a total profit of MDL 1.15 bln last year. PM Vasile Tarlev told a Government sitting this week that “we have neither the moral, nor the legal right to support the companies which generate losses”, the PM emphasised. According to him, the companies which are not of “national interest” will be privatised. The PM asked for the creation of a working group which would analyse the situation of each company where losses are reported and would subsequently propose the Government concrete actions on overcoming the difficulties. Head of the State Tax Inspectorate Sergiu Puscuta mentioned that there were 276 companies where the participation share of the state in the social capital exceeds 50% as of August 1, 2007. Of them, 172 – state companies and 104 – joint stock companies. These companies are observed by 28 ministries, agencies and services. According to the Law on State Budget for 2007, the incomes planned from dividends and the deductions to the state, of at least 30% of the net profit obtained in 2006, amount to MDL 216 mln. According to the net profit for 2006, the dividends resulting from the share of the state amount to MDL 304 mln. The debts of the economic entities in what concerns the payment of dividends are worth MDL 44 mln.