Buglaria's Privatization Watchdog Raised BGN 19 M in 2009

Bulgaria’s Agency for Post-privatization Control (APC) raised BGN 18,9 M in 2009.

Most of this money came from installments paid over time on privatization deals. The APC won judicial cases which brought to it BGN 310 M. Some BGN 800 M demanded by the Agency are still blocked because of the continuing legal procedures against those who committed violations.

A total of BGN 180 M is owed by private companies to the Agency for Post Privatization Control. 254 privatization deal contracts have not been fulfilled. The number of deals under which the private companies are allowed to pay for privatized state assets through installments is 2 686.

In 2009, the Post-privatization Control Agency spent only BGN 2 M.

According to draft legislation of Bulgarian Parliament, it will be merged with the Privatization Agency (which is in charge of making the privatization deals).

The new body will have a director and a seven-member supervisory board with representatives from each major party.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!