Only 40 state companies able to find purchasers

At the moment, fewer than 80 companies in Serbia are waiting to be privatized, but only about 40 of them can find a purchaser, as public procurement procedures cannot be organized for the others due to court disputes or other property-related problems, Politika writes.

The Ministry of Economy told Politika this and announced that they would continue working intensively on changing the privatization portfolio in 2020, in line with the Law on Privatization.

– The initiated privatization procedures will be completed in line with the adopted decisions on the model of privatization or the initiation of bankruptcy proceedings or the termination of the privatization procedures where there are no conditions for the privatization to be carried out – the ministry said.

They told the daily that bankruptcy proceedings were likely for companies which have no sustainable business activities, which means that they are not settling their obligations towards the creditors, and in which potential purchasers are not interested.

The Ministry of Economy says that the privatization procedures in three companies, Tehnohemija Belgrade, JAT Tehnika Surcin and Trem Belgrade, are in the final stage. The sales procedures have been carried out and are now to be finalized.

As said, in 2020, the ministry will try to put MSK Kikinda, Petrohemija Pančevo, Lasta Belgrade, Jat apartmani Kopaonik, Jadran Nova Gajdobra, Krušik plastika Osečina, Rudnik Kovin, Jugoslovensko rečno brodarstvo, Severtrans Sombor and IP Rad Belgrade up for sale.

The daily reminds that, in 2014, when the new Law on Privatization came into effect, saying that all the companies where the state is the majority owner must be sold by December 31, 2015, there were around 560 companies with 90,000 workers on the list for privatization.

Fewer than 100 remain, but the majority went into bankruptcy. Some previous calculations say that over 50 have been sold, the most important of which are RTB Bor, PKB, Železara Smederevo, Politika writes.

Ministarstvo privrede Republike Srbije

Tehnohemija d.o.o. Beograd

JAT Tehnika d.o.o. Beograd

Trem d.o.o. Beograd

Lasta a.d. Beograd

JAT apartmani Kopaonik doo Kopaonik

Železara Smederevo d.o.o.

Serbia Zijin Copper doo Bor

PKB Korporacija a.d. Beograd

JRB AD Beograd

Severtrans a.d. Sombor

Rad ad Beograd

Rudnik Kovin a.d.

Krušik-plastika a.d. Osečina

Jadran a.d.Nova Gajdobra

Ministry of Economy

Tehnohemija Beograd

Jat tehnika Surčin

Trem Beograd

Lasta Beograd

Jat apartmani Kopaonik

Jadran Nova Gajdobra

Krušik plastika Osečina

Rudnik Kovin

Jugoslovensko rečno brodarstvo

Severtrans Sombor

IP Rad Beograd

RTB Bor

PKB

Železara Smederevo

Law on Privatization

privatization of companies