HET Privatization Not Stopped, Elektroprivreda RS Has No Cash

"Elektroprivreda Republike Srpske" has no money, which it is trying to obtain through the recapitalization of "Hidroelektrane na Trebišnjici", claims the president of the Trade Union of Workers of "Elektroprivreda", Zoran Mićanović.

The first attempt at recapitalizing HET did not receive the approval of the Government of the Republika Srpska, which asked the company's management to define the rules and protect minority shareholders.

And while that company is not giving up on this way of increasing capital, the president of the Trade Union of Workers of "Elektroprivreda", Zoran Mićanović, says that the reason for selling shares through the Banja Luka Stock Exchange is "Elektroprivreda's" attempt to get money, which the company does not have.

"Recapitalization of HET. ERS has no cash, we need cash. Whatever it's called, believe me, the management has not provided us with any documents, according to the union, I don't know what they intend to do," said Zoran Mićanović, president of the Trade Union of Workers of "Elektroprivreda RS".

For the opposition from Herzegovina, the recapitalization of HET is nothing more than the beginning of the privatization of "Elektroprivreda Republike Srpske".

National Assembly member from Trebinje, Nebojša Vukanović, believes it is unbelievable that "Elektroprivreda" sold electricity worth over 200 million marks in 2021, and does not have that money.

"According to my data from ERS in 2021, ERS earned over 250 million marks from exports, and it is simply unbelievable that, despite domestic consumption and electricity from exports, ERS does not have sufficient funds to invest in capital projects and constantly resorts to recapitalizations and loans. The best indicator of the situation is the fact that they are selling bonds on world stock exchanges and no one wants to buy them, which clearly shows the real situation in ERS, and all of this is a consequence of unbelievable theft and systemic destruction carried out under the leadership of Luka Petrović," emphasized Nebojša Vukanović, National Assembly member from Trebinje.

HET previously claimed that money had been secured for the purchase of 80 percent of the shares, which would not change the ownership structure, but did not state the sources from which the money was secured.