33 minutes agoAKP's 700m euros in BQK, nowhere to be invested
Periskopi(8 years ago)
(8 years ago)About 700m euros is the fund collected by the Kosovo Privatisation Agency, from the sale of about 1,300 social enterprise assets from 2002 until the end of last year. Of this amount, over 110m euros have been earmarked for 20 per cent, separated for workers after the company's sale. [...]
Of this amount, over 110m euros have been earmarked in the name of 20 per cent, separated for workers after the company's sale in which they worked, while about 20m euros have been paid to potential creditors, Kosovo Privatisation Agency officials said.
Out of the surplus fund in Kosovo's budget, the agency has drawn over 90m euros.
Meanwhile, over 460m euros in reserve funds are being kept blocked at the Central Bank of the Republic of Kosovo.
The failure to invest these current and many years in the Central Bank has been constantly criticised by experts on economic issues. They consider that investing these tools in specific development projects in the private sector would affect the country's overall economic development.
Leke Musa, former executive chief of the American Economic Ode in Kosovo, has told Radio Free Europe that the Government of Kosovo must analyse this issue, and decide in which sectors these tools should be used.
I think it would be worth creating a capital market in Kosovo or through investments in the equity of companies with potential, and another part would go to small and medium-sized enterprises would affect overall economic development”, Musa said.
Yll Kaloshi, spokesman at the Kosovo Privatisation Agency, has told Radio Free Europe, “so far the Agency's Board and management, along with the Government of Kosovo, have considered the legal opportunities to use these means deposited by the privatisation process in BQC for development projects in the country's good, but carefully added because of obligations the AKP has faced former employees and creditors, Kaloshi has declared.
But Leke Musa insists that the privatisation fund should be used only in the private sector, as, according to him, public companies risk the means to be lost.
“Private sector generates sustainable, long-term incomes and can create new jobs. The public sector doesn't generate revenue, it's mainly consumer, and it's already proven that resource access to the public sector has failed”.
We have the case of public enterprises, alone PTK has been a profitable company, and now it is also focusing on the loss of”, Musa told Radio Free Europe.
Of the nearly 600 social companies that figure to be owned by the Republic of Kosovo, the Kosovo Privatisation Agency has managed to privatise most of them, creating one or two new private companies. As for the unsurpassed, about 2,000 assets of social enterprise remain.
