The management of Elektroprivreda (EPCG) proposed to the Shareholders' Assembly that the entire profit made last year in the amount of EUR 52,4 million be kept in the company as undistributed profit and that nothing be distributed as a dividend to the shareholders, including the Government, which owns about 98 percent. of capital, they would not receive anything in the state budget, "Vijesti" learns.
In addition to this 52,4 million, EPCG also has undistributed profits from previous years of 42 million.
The final decision on this will be known on June 28, when it is scheduled for the Shareholders' Assembly, where the representative of the Government, representing 98 percent of the shareholders with voting rights, can change this proposal of EPCG management.
In its budget proposal for this year, the government stated that it expects about 54,5 million euros from capital income to go to the state coffers.
"The Ministry of Finance will recommend to the Government to exercise its property rights in the same way as in previous years. We note that in the previous period, the state continuously exercised its property rights arising from ownership in business companies, and in accordance with the Law on Business Companies and the conclusions that were passed in the previous period", the Ministry of Finance told "News" recently when asked whether will propose that state enterprises pay the profit to the budget and in what percentage.
The executive director of EPCG, Ivan Bulatović, recently said in an interview with "Vijesta" that he hopes that the state will not take all of their profits.
Bulatović said that the Thermal Power Plant Pljevlja will not work for eight months next year, due to overhaul, and that therefore it will be necessary to import electricity, which at current prices would be worth 65 million euros.
"I appreciate that all relevant actors should bear in mind the seriousness of the challenges that EPCG will face next year, especially in the context of the need to procure a larger amount of electricity. Bearing in mind all the obligations based on the procurement of a significant amount of electricity from imports for the next year, I think it is unrealistic to expect that the entire profit will be allocated to the state budget on the aforementioned basis", said Bulatović at the time.
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