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PM Boc: State companies restructuring plan to be known by end-July

The plan for the restructuring of the state companies and public companies that are the subject of an analysis carried out by the Government and the International Monetary Fund mission currently visiting Bucharest will be made known by the end of July most likely, Prime Minister Emil Boc said in the eastern Bacau on Saturday.

'We'll shortly decide the manner in which each state company and public company will continue their activity: by restructuring, improved management or privatisation', with the privatisation to be achieved 'on the basis of a restructuring plan by the end of July', Boc said.

He underscored it is urgent that those companies started making profit.

'Each state company and public company will undergo a vast assessment and analysis process starting in May', because 'unfortunately, part of them are inefficient, they do not have the required funds and management to keep them running, they spend public money, even 50 percent of what they spend is received from the state budget, i.e. money that should normally be directed to investment, wages or pensions', Boc explained.

With respect to possible redundancies as part of restructuring, the Prime Minister stressed 'we did not start from a number of people who should be made redundant', since 'this is not the goal of the reform'; instead 'cost and benefit analyses are being made to establish the exact number of staff that such state companies should have in order to be efficient'.

He reiterated that the restructuring of such firms is aimed at better directing the public money to investment, wages, pensions and other state obligations.

The Government on Friday adopted an urgent decree on strengthening the discipline in the public- and state companies.

The programme for the restructuring of such companies is a topic on the agenda of the talks as part of the current IMF mission to Bucharest.

Sursa: http://www.agerpres.ro

Tags: restructuring companies state public

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