State Enterprises to Obtain the Right to Pay Dividends

Administration councils will be created within the state enterprises, which will have the right to split the profit between the founders. The Government proposed, in this sense, at its last session amendments to the Law on State Enterprises. According to deputy minister of economics and commerce Igor Dodon, the present law does not allow creation of the council in the state enterprises and does not offer to the latter the possibility to divide the profit between the founders. According to him, these changes comply with the international cooperative governance standards in the state enterprises, as well as the recommendations of the International Monetary Fund on making compulsory audit control at the state enterprises. According to the law in force, state enterprises do not pay, except taxes, to their founder or in the budget any certain benefit quotes. If the bill proposed by the Government finds the Parliament’s endorsement, state enterprises which will complete the financial year having a positive balance will pay a certain amount of the profit to the founder and in the state budget. Within the state enterprises will be compulsory created administration councils as fellow management bodies, where the representatives of the founders, Ministry of Economics and Commerce and Ministry of Finance will be included.