16 companies on the brink of bankruptcy, one of them

The Trepca metallural complex, in recent years, continues to face many different challenges to its development, as it has long been without board guidance that would enable the implementation of the Trepca Law, which has entered into force a year ago.

However, Economic Development Minister Valdrin Luka has said that increasing investments in the mining sector, including the full activism of the foreign investment company Trepca, as well as activating several mines in areas of particular interest, will be one of the main objectives for 2018.

Minister Luka has said that by the beginning of the months of February the new Trepca Board will become operational, and thus, according to him, the reputation he once had will return.

“Trepca will again be like a country's development promotor... I am hoping that by the end of January, eventually the start of February the board will be funkyonal in Trepca”, Minister Luka has said.

Also, good work is not working out to other public enterprises in our country, because there are 11 companies on the brink of bankruptcy, where according to Minister Luka these companies are operating at a loss, which have made non-refundable employment criteria. One of them is Kosovo Telecom.

The subx0> public enterprises are currently in poor shape, continue to have losses, most of them out of 16 while they are, 11 of them operate in losses. They've continued employment without criteria in these companies and there's a lot of other problems which I believe soon with changing the law on public enterprises, we'll start changing and restructuring in these companies to turn them into non-profitable, at least not at least at least at a loss of”, he noted.

And not to need subsidy.

Kosovo's Telekom, according to Luka, operates without a governing board now and a year, which added that they are in the process of appointment to restructure the company. Because, according to him, Telekom as a more profitable company, is now losing about 6m euros annually.

I believe that the first restructurings in Telekom will be seen sometime in February and March, where the most tangible restructurings will occur, which will turn the company into a profitable enterprise, from what is losing about 6m euros at the moment... To privatise Vala there are two requirements that must be met, the first is to complete the arbitration, and second to turn the company into a profitable company. Because, if the value of privatisation draws near to loss is also extremely weak”, Minister Luka has said.

He has added that Vala has far greater potential, but a slightly stronger decision-making is required to make stability and that Telekom can be directed on the right track.

Among them, the minister's priority will be to improve the energy sector, create new capacities, as is New Kosovo, and regulate the distribution of the network and quality of this type of service.