$75 million from privatisation

The Privatisation Authority (APAPS) estimates 2003 revenues to amount to 2,500bn ROL (approximately $75.4 million), following the privatisation of companies in its portfolio, APAPS officials said during a meeting with officials of financial rating agency Standard & Poor’s. An APAPS release shows the privatisation of large and very large companies included in the PSAL I and II programmes agreed upon with the World Bank is scheduled for completion in 2003, as is the privatisation of those companies that will go private on their own, without any assistance from international financial institutions. APAPS state secretary Victor Dumitriu, co-ordinator of the post-privatisation department and Adriana Miron, director general of the Trading Companies Assessment and European Integration Department presented this year’s priorities of the institution to the Standard & Poor’s representatives on Tuesday. The Authority’s portfolio still includes some 390 companies, whose capital accounts for only 5% of the total capital of companies in Romania and for 8.47% of the state capital. The Privatisation Authority sold its interests in 259 companies in 2002, collecting a total of $84.8 million. ZF