NIS privatization decision by end of 2007

The government will decide on the privatization of the NIS oil monopoly by the end of the year, Bozidar Djelic says. The deputy prime minister was in Pancevo Saturday, home of the Petrohemija complex that includes refineries, when he said that both companies will be privatized simultaneously, but that the decision on whether to sell the majority or minority package of stock is yet to be made. NIS privatization decision by end of 2007 Another open issue is whether NIS and Petrohemija will be sold to the same strategic partner, Djelic said. Previously, the government seemed determined to sell the minority package, but earlier this year, one of potential buyers, Russia's Gazprom, made it clear they were only interested in buying the majority stake. Djelic also described NIS employees as "greedy", since they wish to gain from EUR 50,000 to 100,000 per person in the announced distribution of this public company's shares. "They have always had a privileged position, salaries above the average, and safe jobs, and now they say they will strike in order to gain these amounts of money through shares. That's out of the question and the government is unanimous on this," Djelic stressed. The cabinet has recently adopted a draft law on free distribution of shares of the largest public enterprises. All Serbians aged 18 and over, with valid Serbian MUP issued IDs, stand to gain some EUR 1,000. But these companies are yet to be listed in the stock market.

NIS privatization decision by end of 2007

Another open issue is whether NIS and Petrohemija will be sold to the same strategic partner, Đelić said.

Previously, the government seemed determined to sell the minority package, but earlier this year, one of potential buyers, Russia's Gazprom, made it clear they were only interested in buying the majority stake.

Đelić also described NIS employees as "greedy", since they wish to gain from EUR 50,000 to 100,000 per person in the announced distribution of this public company's shares.

"They have always had a privileged position, salaries above the average, and safe jobs, and now they say they will strike in order to gain these amounts of money through shares. That's out of the question and the government is unanimous on this," Đelić stressed.

The cabinet has recently adopted a draft law on free distribution of shares of the largest public enterprises. All Serbians aged 18 and over, with valid Serbian MUP issued IDs, stand to gain some EUR 1,000.

But these companies are yet to be listed in the stock market.