Lithuanian government approves state enterprises' reorganization plan

Ministry of Economy

The Lithuanian government approved on Wednesday a plan for reorganizing companies that hold the status of state enterprises.

The plan, drafted by the Economy Ministry, calls for converting five state enterprises under the Transport Ministry, including Oro Navigacija (Air Navigation), Lietuvos Oro Uostai (Lithuanian Airports), the Klaipėda Seaport Authority, the Inland Waterways Authority and Kelių Priežiūra (Road Maintenance), into public companies and the Finance Ministry-controlled Turto Bankas (Asset Bank) into a public limited company by the end of 2018.

The Defence Ministry has until July to submit a reorganization plan for the state data communication network services company Infostruktura.

A new public establishment is to be set up by September to take over the functions of the Energy Agency and the Lithuanian Oil Product Agency, both slated for liquidation. The Radioactive Waste Management Agency is to be merged into the Ignalina Nuclear Power Plant.

The government is also expected to decide on privatizing state-owned companies.

Economy Minister Virginijus Sinkevičius told BNS in December that proposals on the privatization of certain companies, including Epso-G, Litexpo, Lietuvos Paštas (Lithuanian Post) and some of the subsidiaries of Lietuvos Energija (Lithuanian Energy) and Lietuvos Geležinkeliai (Lithuanian Railways) would likely be rejected.

However, the government is likely to give the green light for selling Būsto Paskolų Draudimas (Housing Loan Insurance), Problematika and Detonas.

Source: BNS
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