TI BiH: We will monitor the privatization process of 14 companies in the Federation

Transparency International Bosnia and Herzegovina (TI BiH) sent a letter to the Ministry of Energy, Mining and Industry of the Federation of BiH, inviting cooperation in monitoring the announced privatization of 14 companies in the FBiH, reports the Patria News Agency.  

The Government of the Federation of Bosnia and Herzegovina, at its 152nd session, approved the Privatization Plan and the Financial Plan of the Privatization Agency in FBiH for 2015, which includes the privatization of 14 companies. TI BiH plans to get involved in monitoring the privatization process of these companies, with the aim of ensuring transparency of the entire process.

Given the damage caused by non-transparent privatization contracts in the past and the fact that subsequent privatization audits have not yielded results, it is of great importance to use this opportunity to involve the public and civil society from the beginning in monitoring privatization and contribute to more transparent and successful privatization of companies of strategic importance for the FBiH.

TI BiH also noted that public interest is even greater because privatization attempts have already been made for some companies, and in the case of Bosnalijek, an investigation was initiated by the BiH Prosecutor's Office due to abuses in share trading and other irregularities.

Due to all of the above, TI BiH hopes that the Government of FBiH and the Ministry of Energy, Mining and Industry will ensure transparency this time and conduct the privatization process respecting public interest, and allow independent monitoring of privatization, in order to prevent abuses in time, which have caused irreparable damage to the BiH economy in previous privatization cases, it was announced from TIBiH.