Economy ministry not planning to sell Transpetrol

Economy Minister Pavol Rusko is not planning to sell the government's stake in crude-oil pipeline operator Transpetrol or gas utility Slovenský Plynárenský Priemysel (SPP), news wire SITA reported.

"I do not see even the smallest reason for the sale of the stake in SPP; it is a stable company with dividends and without a need for additional investments," added the minister.

However, the ruling coalition wants to make the remaining stakes, which the government holds in strategic companies, available for privatisation.

In mid September, parliament advanced to the second reading of a draft revision to the large-scale privatisation law enabling the sale of remaining 51 percent government stakes.

The revision expires on December 1, 2003, a provision that has prevented the government from selling its 51 percent stake in strategic companies. The revision does not specify what percentage the government must keep in individual companies and leaves the decision up to the cabinet.

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

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