Kosovo’s government amends law on privatisation agency

By bne IntelliNews December 3, 2015

The Kosovan government said on December 3 it has approved amendments to the law on the privatisation agency to regulate the appointment of the board of directors and decision-making procedures.

Kosovo’s privatisation agency, PAK, has been without a board of directors for months, which blocked the process of privatisation in the country. The appointment of the new board will allow the agency to proceed with the privatisation and the planned sales of state-owned assets through liquidation. One of the biggest companies awaiting privatisation is the mining complex Trepca, though this company is also claimed by Serbia.

Prime Minister Isa Mustafa said in a government statement that this is an urgent issue which should be solved. The parliament is unable to approve the appointment of the new board of directors, as one of them should be external, due to the incompatibility with the existing law.

The privatisation process in Kosovo, which unilaterally declared independence from Serbia in 2008, has been marred by accusations of corruption and political meddling.

In May 2014, Kosovan police arrested a dozen people, including top officials from the privatisation agency, who were suspected of embezzling public funds during the sale of the construction armory factory FAN in 2006.

 

Related Articles

Evolution Equity Partners closes $125mn cybersecurity-focused fund

Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more

Haradinaj reportedly musters support to form Kosovo’s new government

Ramush Haradinaj, the prime ministerial candidate of the coalition that won Kosovo's June 11 early general elections, is believed to have mustered the support of 62 lawmakers in the new 120-seat ... more

Rival party leaders in Kosovo rebuff Haradinaj's invitation to coalition talks

Ramush Haradinaj, the prime ministerial candidate of the coalition that won the June 11 early general elections, has sent letters to the other two main formations in the new parliament, asking for a ... more

Dismiss