Economics

PARLIAMENT ADOPTS LEGISLATIVE FRAMEWORK FOR LIQUIDATING 320 ENTERPRISES

24 november, 2017

Around 320 state and municipal enterprises will be liquidated in accordance with the law, adopted by the Parliament.

The explanatory note to the draft says that the companies to be liquidated are standing idle for already several years, are not administrated by the founder and, in most cases, do not own property.

The new law establishes basis for liquidating state and municipal enterprises, as well as regulates the rules of its founding, registration, financing and using the property, transmitted to them. In order to prevent alienation of socially-important property (kindergartens, rest camps and others), the law establishes a special legal status for such property. Also, only the Public Property Agency (PPA) will have the right to found state institutions.

For raising efficiency, powers of enterprise administrative board were extended. Thus, the board establishes criteria of assessing the productivity, approves the three-year business plan, analyses reports of controlling bodies and approves action plan on liquidating the identified violations, is engaged in the process of procurement, selects administrator on the contest basis and proposes his candidature to the founder.

The document establishes the fixed minimal marginal rate of 5 thousand lei for authorized capital of enterprises. Also, the founder will be approving the buying of goods, whose cost exceeds 25% of net assets or the sum of 400 thousand lei.

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