The Slovenia Times

The Management of State Shareholdings

Nekategorizirano


The government-sponsored changes to the act give the cabinet greater powers over the Capital Assets Management Agency (AUKN) as a provisional measure until a new systemic solution is adopted.

The tweaks are especially important against the backdrop of pending decisions on potential new strategic owners for many state-owned companies. One of such is the NLB bank, which needs to be recapitalised by 30 June to meet the capital requirement required by Brussels.

The AUKN, set up as an independent agency in late 2010 by the previous left-leaning cabinet, will now have to seek government approval for votes at annual general meetings, including the appointment of supervisory board members.

The limit over which the AUKN needs to seek government approval for disposal of stakes in companies is lowered from EUR 20m to EUR 5m.

The supporters stressed the amendments were a temporary solution to improve accountability and prevent bad decisions being made, whereas the opposition labelled the changes a move back into the times of political staffing.

Finance Minister Janez Šušteršič recently explained that the government had decided to propose the changes since it had practically no formal leverage to influence processes in banks and companies that are in need of strategic owners.

But SD deputy Janko Veber believes that stripping the AUKN of its independence was a step back as the agency was set up to remove politics from staffing in state-owned companies.

He said the AUKN had yielded "enviable results", saying operating profits of state-owned companies increased by 45% to EUR 289m under the auspices of the agency.

Alenka Bratušek of the PS, the party which advocated plans to scrap the AUKN ahead of the general election, meanwhile questioned the sensibility of adopting interim solutions and the haste in which the government was trying to change the law.

She stressed that the PS wanted the government to take time and design "comprehensive solutions".

Coalition Pensioners' Party (DeSUS) deputy Ivan Hršak meanwhile supported the proposal, stressing the changes were only a temporary measure until systemic changes are ready in the summer.

Janez Ribič of the coalition People's Party (SLS) noted that the establishment of the AUKN was a likeable move but it allowed the government to evade responsibility for bad decisions. He stressed the SLS wanted clear rules and accountability.

Bojan Starman of the coalition Virant List agreed, saying that the state had proven a bad manager both before and after Slovenia's independence.

Jožef Horvat of coalition New Slovenia (NSi) also pointed to the issue of accountability. He stressed changes were needed now, before the "season of general assemblies".

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