Radončić on FDS: If Novalić and Džindić don't do the job properly, SBB will take political action

Following information that on September 1, via the Sarajevo Stock Exchange and at an extraordinary auction, 39.9% of the state package of FDS shares will be sold for 42.7 million KM, the president of SBB, Fahrudin Radončić, publicly calls on Prime Minister Fadil Novalić and the Government of FBiH to postpone this sale until further notice, it was announced from SBB, writes the Bosnian news agency Patria.

Responding to a question from a Patria journalist about what this actually means and whether it can be stopped at all, Radončić said:

- In privatization, great social damage has been done, a few valuable factories remain, and I believe that in this way, by underestimating the book value and falsely presenting the value of our companies, they would practically be stolen, and this must be stopped. In that sense, I expect absolute cooperation between SDA and SBB, and we will see what Novalić (Fadil Novalić, ed.) and the responsible minister Džindić (Nermin Džindić, ed.) will do. If they don't do the job properly, we will take political action – Radončić emphasized.

Incidentally, Džindić is SBB's minister in the FBiH Government, serving as Minister of Energy and Mining. Radončić added that "everything that goes into privatization should be re-examined, including Bosnalijek and Sarajevo Osiguranje."

Let us recall, according to official data published by some media, the total capital of FDS amounts to 220 million KM, and the state portion is 85.8 million KM. That is twice the amount sought by the FBiH Government, and a special item is the undistributed profit of FDS, which as of the beginning of this year amounts to as much as 46.6 million KM.