The completed reform of state-owned companies will mean real results in the economy and in the public budget, for the benefit of Romania and the people, Prime Minister Ilie Bolojan said on Thursday.
"We have a clearer picture of state-owned companies and a structured work plan for the coming period. Romania has over 1,500 companies in which the state is a shareholder, and many of them operate inefficiently and generate significant losses for the public budget. In total, we are talking about approximately 14 billion lei in losses in recent years, money that could have gone into important investments for Romanians," the Prime Minister wrote on Facebook.
He mentioned that the reform was started with "a pilot project targeting 22 companies in energy, transport and industry", which "accumulated, in a single year, budgetary debts of over 4 billion lei and losses of over one billion lei".
"This is the annual bill that Romanians bear due to the lack of decision", the PM emphasized.
According to him, the reform of companies "starts from the principle that the state must behave as a responsible owner".
"This means knowing clearly what it owns, why it owns and what it will do with each company. The problem has been accumulating for years", the Prime Minister also wrote.
Based on this analysis, the Government has established several directions of action.
Thus, Ilie Bolojan pointed out, companies in critical infrastructure, such as ELCEN, Oil Terminal or CFR, will be supported through investments and more professional administration, because they have an essential role in the functioning of the economy.
"At the same time, for companies with a strategic role, such as Avioane Craiova or Romaero, decisions will be taken in coordination between the institutions involved, based on independent analyses and audits, so that it is clear how their industrial potential can be better exploited. Where modernization is needed, we are considering aligning with European models, such as the Boiler Control Company (CNCIR), which will be reorganized to become a more competitive structure and closer to the standards of similar operators in Europe. Companies with problems (losses, subsidies increasing year by year), such as CFR Calatori, Metrorex or TAROM, are entering a process of operational recovery, with efficiency measures and international expertise. We can no longer prolong situations that produce losses year by year. Where there are overlaps and inefficiency, we will make mergers and integrations. For example, in the case of companies such as CFR Telecommunications or Tipografica Filaret, the goal is to reduce costs and increase efficiency. And where companies no longer have a future, we close them gradually and in an orderly manner. Cases such as CFR Marfa or Petrotrans show why this reform can no longer be postponed. We can no longer accept situations in which companies that have been bankrupt for years continue to consume public money", the PM said.
Ilie Bolojan stated that, in parallel, a list of companies that could be listed on the stock exchange, through the sale of minority stakes, is being worked on, depending on the profile of each one.
"The state will remain the majority shareholder, and control over strategic decisions will be fully maintained. Among the companies under consideration are Hidroelectrica, Romgaz and CEC Bank, and for others, such as Transgaz, the Port of Constanta or the Romanian Post, the process depends on the fulfillment of certain preconditions. This stage will contribute to the development of the Romanian capital market, to increased transparency and to a better performance of state-owned companies," the prime minister stressed.
He announced that, in the next 30 days, "a new wave of evaluations will be launched, based on criteria related to the strategic importance and financial situation of the companies."
"Romania can no longer afford the waste and blockages it has had up until now. The reform of state-owned companies, once completed, will mean real results in the economy and the public budget, for the benefit of Romania and its people," the prime minister pointed out.
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