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FNM closure in pipeline

THE NATIONAL Property Fund (FNM), the state's privatization agency, will submit a draft bill on its closure at the end of January 2006, the SITA news agency wrote.

The FNM will shut down by the end of 2006. The important question, said Kojda, is who will take over the FNM's powers and assets.

"We suggest that privatization activities are taken over by the Economy Ministry, and assets and liabilities by the Finance Ministry," said Kojda.

The FNM already announced a tender to sell its claims totalling Sk16 billion (€422 million). If these are not sold, the FNM proposes to shift them to the bailout agency Slovenská konsolidačná.

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