Benčina, named acting chairman by the parliament in September, said earlier this week he was stepping down for personal reasons, but Delo speculates on Wednesday the real reason behind the decision is pressure from the government.

Delo quotes sources as saying the government had demanded that the agency name specific people to supervisory boards of companies controlled by AUKN, and accelerate privatisation.

Speaking for the paper, Benčina denied having been under pressure, but he acknowledged that there were "differences in views on the system of management of state assets and systemic conditions in which the agency has to function."

AUKN is slated for abolition when the act on the Slovenia Sovereign Holding takes effect, but the legislation has been held up by referendum demands.

If the act does not take effect before 30 November, the government will have to nominate a new acting chairman, as the AUKN bylaws specifically state that the agency is represented only by the chairman.

AUKN manages numerous state-owned companies, including power utilities, the motorway company DARS, state-owned banks, the telecoms incumbent and the largest insurance company, Zavarovalnica Triglav.