House of Peoples of the FBiH Parliament on the Law on Emergency Administration in Nova Željezara Zenica

(Patria) - An emergency session of the House of Peoples of the Parliament of the Federation of Bosnia and Herzegovina has been scheduled for today at 12:00 PM, with the agenda item being the Proposal for a Law on the Procedure of Emergency Administration in the company Nova Željezara Zenica d.o.o. Zenica, which is of special systemic importance for the Federation of Bosnia and Herzegovina – urgent procedure.

This proposed law was adopted on Monday by the House of Representatives of the FBiH Parliament with 70 votes in favor, and the law was also supported by opposition deputies from DF and SDA.

If the law is adopted in the same form as in the House of Representatives, it will enter into force, with the aim of avoiding the initiation of bankruptcy on June 26.

By this law, the FBiH Government commits to appointing a temporary administrator for Nova Željezara Zenica and to restarting production.

Nova Željezara Zenica currently employs around 1,840 workers. Some have retired, and contracts for workers on fixed-term agreements will not be renewed.