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ECONOMIC BRIEFS

New FNM Presidium cancels some decisions of predecessor

At its third special session on November 16, the Presidium of the National Property Fund (FNM, the national privatization agency) canceled decisions taken by the former presidium in October. The presidium also elected new members to the FNM executive committee.

FNM president Ľudo Kaník said that the presidium canceled decisions to forgive interest rate installments and to lower the purchase prices of dozens of companies. The former FNM chief executive had made these moves regarding privatised companies on October 9 and 19.

The presidium also convened special shareholders' meetings in some companies in which the FNM holds majority stakes. Members of the presidium also created a legal framework for inspections of past individual purchase contracts. The Slovak parliament replaced the top officials of the National Property Fund on November 5.

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