Government Downsizes Management of State-owned Companies

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Government Downsizes Management of State-owned Companies

At its weekly meeting Wednesday, the government decided that three-member management boards, instead of the current five-member boards, will run six state-owned enterprises functioning under the authority of Transport, Information Technology and Communications Minister Alexander Tsvetkov, said the government press office.

The six companies include Port Infrastructure, National Company for Railway Infrastructure, Air Traffic Services Authority, Transport Construction and Restoration, Communication Construction and Restoration, and Construction and Restoration.

The downsizing of the management will be done by amendments to four laws.

One of the three on the management board will be director general of the enterprise.

The government also approved a report by Regional Development and Public Works Minister Rossen Plevneliev on the reduction of the number of the members of the management boards in the commercial corporations under his Ministry. The idea is to cut on management costs in single-person commercial corporations in which the State holds a stake and to limit the negative impact of the financial crisis on their performance.

The change affects five state-owned companies: Geoplanproekt, the Local Self-Government Fund, better known as FLAG, Avtomagistrali (Motorways), Technoexportstroy, and the water and sewerage utility companies in Lovech and Bourgas. Each of these companies will be run by a board of directors consisting of three members.

The two-tier system of management of the Construction and Restoration State Administration will be transformed into a one-tier system. The control board will be removed.

Source: BTA

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