New National Property Fund president is an SNS nominee

PARLIAMENT approved personnel changes in National Property Fund (FNM) management on August 4, the news agency TASR wrote. The new president of the organisation will be Peter Šimko, a Slovak National Party (SNS) candidate who was a member of the police for 24 years. Šimko turned 50 in July. Since 2004, he has been on the board of water-management company Severoslovenská vodárenská spoločnosť.

Apart from Russian, the new FNM head doesn't speak any other foreign languages, a fact which could complicate negotiations with foreign investors. The new management will administer the Fund's accounts. The FNM has over Sk40 billion (€1.06 billion) at its disposal. It expects expenditures of Sk22 billion to the end of this year.

Following the personnel changes at the FNM, the economy ministry can also start replacing people in companies that fall under state influence. This may concern such companies as the Slovak gas utility SPP, the electricity utility Slovenské elektrárne and the electricity transmission company SEPS, among others.

Prime Minister Robert Fico has ruled out any privatisations of strategic companies but the government may consider selling off smaller firms.

Compiled by Martina Jurinová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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