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BUSINESS SHORTS

PM criticizes past privatizations

SLOVAK PM Robert Fico and Economy Minister Ľubomír Jahná-tek called a press conference on February 12 to announce the new powers that have been granted to the government thanks to the approved amendment to the Law on the Regulation of Network Industries.

At the press conference, Fico criticized the privatization of some Slovak energy companies that occurred under the previous centre-right Dzurinda government. He even stated that some of the privatization contracts might end up in the Constitutional Court.

The cabinet is still analyzing these contracts to find out if it is possible to transfer control of the companies back to the state.

The cabinet main focus at the moment is the lease contract between waterworks utility Vodohospodárska Výstavba and Slovakia's dominant power-producer Slovenské Elektrárne (66% owned by Italian Enel) on the use the hydro-power plant near Gabčíkovo.

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