AKP's withdrawal, dangerous process for creditors

The potential daily may be the person or subject, which has a valid claim as credit to a company or asset sold by the Kosovo Privatisation Agency (AKP).

The AKP does not have the exact number of eventual creditors.

All revenues gathered by the Agency as a result of its activities are held in trust to distribute to creditors and owners, if that is confirmed by the Special Chamber of the Supreme Court of Kosovo.

The Kosovo Privatisation Agency has raised more than 769m euros from the sale of social enterprise assets since the start of the privatisation process in 2020.

Of the total value so far,381m euros have been transferred to Kosovo's budget, over 140m euros have been earmarked for 20 per cent for workers working in retail companies, 31m euros per capita, while 218m is the fund available.

The Kosovo government has seen it withdraw 100m euros from the Kosovo Privatisation Agency, in the name of economic recovery, for the losses caused by the pandemic and corruption.

The withdrawal of the vehicles is envisioned under the draft economic recovery law, which on Friday, August 14th, is expected to be considered at the Kosovo Assembly session.

AKP officials, unwilling to comment on the bill in question, in a written reply from the Bureau for Information of this agency, stress that, “as Government, neither the Assembly of Kosovo nor the AKP, violates legitimate creditors”.

And officials of the Ministry of Finance and Transfers say to Radio Free Europe that “this process has been co-ordinated in co-operation with the AKP and that the aforementioned changes will not affect the work and activity of the Kosovar Privatisation Agency, nor in its obligations to creditors”.

Muharrem Sahini, spokesman for the Ministry of Finance and Transfers, says carrying these tools into the budget of the Republic of Kosovo will be enabled through the completion of the AKP Law, as well as through the approval of the draft economic recovery bill by COVID-19, which is under consideration in the Kosovo Assembly.

This project says that the AKP's temporary “is used for investments that directly affect the country's long-term economic development” adds text to “, as well as to financing economic recovery”.

To be sure the AKP's used means, in this bill there must be a provision or clause, which guarantees that, in case of need, creditors must remand the Government of Kosovo, experts on economic issues say.

Majid Bektashi, professor at Pristina University, in a conversation for Radio Free Europe, says the Government of Kosovo must take measures in order not to harm potential creditors.

In this case, taking means without bail, I believe you can endanger creditors in future procedures”, Bektas estimates for Radio Free Europe.

Otherwise, in addition to the AKP's tools, in the draft economic recovery law, the parameters the taxpayers can attract 10 percent of the pension savings to the Kosovo Pension Savings Fund.

The package for economic recovery amounts to 385m euros.