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Economy Ministry proposes transformation of FNM

By September 2013, the National Property Fund (FNM), Slovakia's state privatisation agency should cease to exist in its present form. The Economy Ministry led by Minister Tomáš Malatinský is proposing changing the name of the institution, which was originally founded to oversee the privatisation of state property and which now administers the state’s shares in part-privatised industries, to the National Management Company, the Sme daily wrote on Tuesday, September 4.

By September 2013, the National Property Fund (FNM), Slovakia's state privatisation agency should cease to exist in its present form. The Economy Ministry led by Minister Tomáš Malatinský is proposing changing the name of the institution, which was originally founded to oversee the privatisation of state property and which now administers the state’s shares in part-privatised industries, to the National Management Company, the Sme daily wrote on Tuesday, September 4.

Instead of selling state shares, it should instead administer them and seek to help pension reform, although the Economy Ministry has not specified how this should happen. The Labour Ministry says that the new institution should become a state pension-administering company. Former economy minister Juraj Miškov (Freedom and Solidarity (SaS)) is strongly opposed to the idea, Sme wrote.

The government of Prime Minister Robert Fico should decide on the fate of the FNM at its next session, the TASR newswire wrote. The ruling Smer party wants to give the organisation a licence to trade securities, and bring it directly under the remit of the Slovak government. The government also plans to establish a new State Energy Holding into which the shares of energy-administering companies, i.e. power suppliers, heating companies and the SPP gas utility, would be transferred. The holding would fall under the direct control of the Economy Ministry.

The SITA newswire wrote that by the end of March next year, the Economy Ministry is to submit to the cabinet a draft bill on the FNM's dissolution. A month later, parliament should debate the draft.

Sources: Sme, TASR, SITA

Compiled by Zuzana Vilikovská from press reports
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