Karl Erjavec, the president of DeSUS, told the STA on Tuesday that the bill was to be sent to parliament without the okay from his party because the government wanted the document to be in place in January.

DeSUS wants guarantees that a part of the proceeds from privatisation of state-owned companies will be used to stabilise Slovenia's pension purse. Erjavec said that DeSUS will meet with Prime Minister Alenka Bratušek later this week to discuss amendments to be filed in parliamentary procedure.

Under the bill, Slovenia's Restitution Fund (SOD) will be transformed into the Sovereign Holding, a super-custodian of all state-owned companies.

The Pension Fund Management (KAD) is to become a part of the holding but it will remain an independent legal entity, as demanded by DeSUS. The holding will also take over the DSU fund and restructuring firm PDP.

KAD's assets will only be used for the pension purse and shareholders will not distribute its profits. Moreover, KAD will contribute EUR 50m to the pension purse each year.

The bill is to replace an existing Sovereign Holding act that was passed a year ago and was never fully implemented after the abolishment of Capital Assets Management Agency (AUKN).

Expect to remain in the new law is the division of the state's stakes into three categories: strategic investments in which the state will preserve at least 50% of stock; important investments in which the state wants to keep 25%; and other investments slated for outright sale.

The holding law will form the foundation for future phases of privatisation after the government slated 15 companies - among them telco telekom Slovenije, NKBM bank, flag carrier Adria Airways and ski-maker Elan - for sale in the interim period.