Government sells 100% of Albpetrol shares

13/12/2011 23:16

The Parliamentary Commission of Economy approved a new law proposed by
the government, which allows the latter to sell 100% of the shares of
the public oil company, Albpetrol.

The draft was opposed by the opposition, which demanded to privatize it through concession.

“100% privatization with this lack of transparency is the worst that could happen to the country”, declared the Socialist MP, Mimi Kodheli, vice Chairman of the Parliamentary Commission of Economy.

“The government’s purpose is to attract a well known strategic investor in this area”, declared Edmond Spaho, Chairman of the Parliamentary Commission of Economy.

But the sale formula was not the only disagreement between the parties. Arben Malaj, from the Socialist Party, declared that the draft throws the current Albpetrol employees on the street, because it doesn’t foresee any treatment for them.

“Privatization of public assets doesn’t mean to wash your hand from a public company, but it means that after the privatization, there must be a post-privatization process, how the costs will be covered, the employment of these people, etc.”, Malaj declared.

The Deputy Minister of Economy, Eno Bozdo, declared that the treatment of the employees has been decided by law.

“All governments of the last 20 years have had no evaluation or a different evaluation to what the Albanian law provides”, Eno Bozdo declared.

Albpetrol is the last public company that had remained to the Albanian citizens. Different to the other companies, the government has decided to sell 100% of the shares. Albpetrol currently owns 1264 active wells that produce 135.000 tons per year.

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