Bisected inflow from privatization in the RS

The most money last year, poured from the privatization of the Banja Luka salons “Boska”, for which the Government of the RS Serbian consortium “Zeksta – Delta gained 5.86 million KM. It was also the only company privatized in 2009 with majority state capital from the former list of strategic enterprises.

The rest of the inflows related to the sale of minority packages of shares conducted by Investment-Development Bank (RBI) RS. State action in Banja Luka Hotel “Bosnia” were sold at auction for 198,255 stock KM “Unis Ferosa” from Srebrenica to 5866 KM, and Banja Luka, “Medical electronics” for the 156,923 KM accepting the takeover bid.
RBI last year made public tenders for the privatization of FAM “Jelšingrad” from Banja Luka, factory special transmission from East Sarajevo and “Ray” from Teslic, but for them, despite the informal interest of investors, not received any official offer.

Antonija Dulić, Acting Executive Director of the Department for the sale and restructuring of the RBI, the reason for low investor interest seen in the fact that a large number of companies in the RS already privatized, while the ten companies attractive strategic decision of the Government to further excluded from the process. “World economic crisis also affected the economy of the RS, the decrease of interest of investors for investment, especially as companies that were offered in the tender just the metal and related activities, which is most affected by recession,” said Dulić.

Economic analysts point out that the privatization process is too long, and that the state-owned enterprises for the time mostly failed to adapt to the market which are only massed losses and debts. For these are, as Stevo Pucar, an expert in macroeconomics from the Association of Economists RS – SWOT influenced and international financial institutions that were imposed after the war, our market economy and prevented the help of the Government state-owned enterprises.

“By accepting the concept of local authorities have lost the lever to support the factory that had a technology and market. With the years we came into a situation that they instead made a profit virtually ‘eat’ their substance, which is not interesting to foreign investors, ” says Pucar.

In the relevant sector RBI say that their year’s activities will be focused on financial restructuring of debt loaded companies, and sell those for which there is expressed interest of investors.
“Sada u portfelju Akcijskog fonda RS imamo 377 neprivatizovanih preduzeća, od čega je u 120 pokrenut predstečajni ili stečajni postupak”, kazala je Dulićeva. “Now in the Share Fund portfolio, we have RS 377 non-privatized companies, of which in 120 running to complete procedures” said Dulić.
A good part of the portfolio, and 88 companies are from the utility companies and activities, and 19 local media outlets, and 15 other non-economic collectives such as the Center for Information and culture, libraries and sports centers.
from the ESDP and the NLB Development Bank
RBI last year, also sold a small portion of shares HPK companies contracted for 341,776 KM, but that amount is not included in the summary privatization inflows for 2009, as sales conducted by the method of ESDP (working privatization) in which the funds coming successively for many years.
From the Share Fund portfolio were sold and about four percent of the shares in NLB Development bank Banjaluka about 8.2 million. 

Sources: http://www.capital.ba