Privatisation in the tourism sector will be sped up by allowing the shares of companies in the field to be paid for in instalments, which should be distributed over a short period of time, though.
The Government last week enacted an emergency ordinance to speed up and complete privatisation of the tourism companies, which stipulates a simpler privatisation procedure and ensures the transparency of tenders, as the press will be allowed to attend.
The regulation sets shorter deadlines to pay for the shares or deposit the down payment in case of instalments, as well as the sanction by the termination of the contract and the loss of the money already paid and invested, in case the buyers fail to comply with their contractual obligations.
The Government early this year approved the transfer of more than 70 tourism companies from the Privatisation Authority in the care of the Tourism Ministry with the purpose of privatisation.
The ministry officials announced the deadline for completing the process was the end of this year, but later said most of the companies were under litigation.