FBiH Government Adopts Decree on Consolidation of Economic Entities

The Government of the Federation of BiH adopted the Decree on the Consolidation of Economic Entities in FBiH at today's session in Mostar, writes Patria News Agency.

The Law on Financial Consolidation of Economic Entities in the Federation of BiH, published in July 2014, aimed to separate current operations from the burdens and debts of the past that burden the vast majority of companies, primarily those in partial or full state ownership.

The law attempts to create a prerequisite for participation in public procurement through tenders, realization of credit funds, resolution of debt issues for unpaid contributions to workers, elimination of the risk of bankruptcy or liquidation proceedings, and the like. This law was in effect until July 2017. The Government is now seeking its extension for an additional two years.

The decree adopted today will extend the consolidation period. It enters into force the day after its publication in the "Official Gazette of FBiH" and will apply until the Law on Amendments to the Law on Financial Consolidation of Economic Entities in FBiH enters into force.