Amendments to Privatization Act Approved on First Reading.

06.11.2000

On Friday the Bulgarian Parliament passed on first reading a Government-proposed bill amending the Privatization Act. Under the bill, which will enter into force after its second-reading adoption and promulgation, the decisions on the privatization of state-owned strategic enterprises and monopoly enterprises operating in the public services industry would be made by the Council of Ministers. The government would develop strategies for the sale of such enterprises, which would be subject to approval by parliament. The main purpose is to enhance transparency and improve the efficiency of the privatization process. The amendments are necessary because of the forthcoming denationalisation of the energy sector, telecommunications and other public services