Gov't adopts draft on modification of OUG 114, on which it will assume responsibility

According to the head of the PM Chancellery, Ionel Danca, on Wednesday, the Government adopted the draft modifying Government Emergency Ordinance (OUG) 114 and supplementing some normative acts.

"By adopting this draft law today we are saving private pensions pillar 2, which is something the Orban Government has always ednorsed - namely to stimulate and encourage alternative private pensions systems. In this respect, the Government corrected the measures that would have caused the destruction and nationalization of pension pillar 2. The draft law also eliminates the requirements concerning the additional capital for private pension managers, reduces the management fees for the Pensions House and ASF, leaving thus more money in the accounts of the participants to pillar 2. It also eliminates the possibility for the participants to choose between pillar 1 and 2," Danca told a press conference held at the Victoria Governmental Palace.

He added that another measure was to dissolve the "mechanism of fictitious loans" granted through the Development and Investment Fund.

"Taxing the energy companies by 2 per cent of their turnover and capping the producer price for gas and electricity suppliers at 68 lei megawat/hour were also among the measures that were abrogated, with transitory measures being introduced instead, meant for the liberalization of the gas and electricity markets. (...) The funds collected based on the 2 per cent of turnover fee applied to companies in the energy sector, collected by ANRE [National Energy Regulatory Authority], will be transferred to the Ministry of Economy to support the energy efficiency programmes and the vulnerable consumer protection programmes, the amount in question being 600 million lei. (...) There were also abrogated the provisions in the telecommunications sectors related to the taxation of these companies and the penalties regime in this field, and also abrogated were the provisions related to the taxation of the bank assets," mentioned Danca.