The Great Privatisation completed by 2003

The Privatisation Authority will privatise 50 large and very large trade companies every year, so that the state-owned companies will become private property by mid 2003, the Privatisation Authority minister Ovidiu Musetescu said.

“By the end of this year, we will be able to announce the privatisation of 25-30 companies in the PSAL and RICOP programmes alone, accounting for more than half of the share capital in the Privatisation Authority’s portfolio,” Musetescu specified.

As for the RICOP programme, Musetescu said that, “aside from several-week delays”, the privatisation process was in line with the terms agreed upon with the EU.

“The Privatisation Authority will have to make a special effort as of July, and I hope we’ll be able to make it,” Musetescu added.

According to the minister, the Government last Thursday approved the list of the 19 trading companies included in the PSAL I programme.

The ads about the privatisation of the 19 companies will be run throughout July 1- October 15. Fifteen of the 19 companies are also included in the RICOP programme agreed upon with the EU.

The 19 companies are Buzau-based Cord SA and Rotec SA, Real Pleasa, Biosin Calafat, Uztel Ploiesti, Terom Iasi, Bicapa Tarnaveni, Uzinele Sodice Govora, Fabrica de Scule Rasnov, Colorom Codlea, Rulmentul Brasov, Rofep Urziceni, Electroturris Turnu Magurele, Moldosin Vaslui, Antibiotice Iasi, Sidermet Calan, Elsid Titu, Carom Onesti and Aro Campulung Muscel.