Most notably, such companies will have to disclose information on the value of all transactions and the counter-party, unless that could undermine their competitive advantage.

Regardless of that exemption, they will be made to disclose all information about donations, sponsorships, consultancy agreements and contracts for copyrighted works. Such contracts have often been used to siphon off funds.

The disclosure provision would continue to apply for five years after such companies are privatised, according to the bill.

Executives of state-owned companies have been fiercely against the move, arguing that it will erode their competitive advantages by allowing competition insight into their business.

The bill was subsequently expanded with a provision stipulating that data on the non-performing loans transferred onto the Bank Assets Management Company (BAMC) will be made public, despite concerns about banking secrecy.

The move was motivated by fears about the transparency of BAMC, in particular questions about its handling of loan portfolios stemming from management buyouts.