In just nine state-owned companies, around 200.000 euros were paid out in compensation to members and chairmen of the boards of directors between January and June this year. In addition to net compensation, the costs of compensation payments increase by at least 15 percent due to taxes and contributions.
The members of the Board of Directors are elected by the shareholders' assembly. According to the Law on Business Companies, the Board of Directors, among other things, manages the company and provides guidelines to the executive director regarding the management of the company's affairs, adopts a decision on the internal organization of the company and a systematization act, appoints the executive director and the company secretary, as necessary, determines the business strategy in accordance with the guidelines of the assembly, supervises the company's operations...
The shareholders' meeting decides on the remuneration policy, as well as the amount of remuneration for members of the board of directors.
In “Barska plovidba”, the monthly remuneration for the Chairman of the Board of Directors is paid in the amount of one average salary in this state-owned company in the previous year. Board members received a monthly remuneration in the amount of 70 percent of the average salary.
By that calculation, Alkovic Cazim, Chairman of the Board of Directors, received 4.977.52 euros for the first five months, and the members of the Board To Radomir Rudanović, Teodora Ostojić and Marko Maraš 3.484,25 was paid out.
In total, the net remuneration paid to the Board of Directors in the period from January to May was 15,430,27 euros or 20.573,62 euros gross.
CGES for fees 50.309,05 euros
In the first five months of this year, Montenegrin Transmission System AD (CGES) allocated 50.309,05 euros for compensation to members of the Board of Directors. Aleksandar Mijušković, the President of the Board of Directors, was paid 21.800,2 euros, a member of the board Jelena Mateic received 7,816.95 euros, and the remaining members of this body To Violeta Vuljaj, Vučko Fatić and Slavoljub Todorović The compensation was 6,897.3.
Five members of the Board of Directors of the “Simo Milošević” Institute in Igalo, from January to June, received a total of 13,847.31. To the Chairman of the Board Predrag Dragojlović was paid monthly at 727,44 euros, and members To Goran Čabarkapa, Pavle Obradović, Savo Kalezić and Petar Rakčević 509,21 euros each.
To the members of the Board of Directors of the Railway Transport of Montenegro AD, for the period from 1. 1. 2025 to 31. 5. 2025, 536,29 euros were paid monthly, and Trifko Dragisic, the President of the Board of Directors received 766,13 euros.
For Montenegro bonus, Borivoje Perisic, the chairman of the Board, collected a total of 6.000 euros in six months (1.000 euros per month), and the compensation for the Board members was 1.000 euros.
The same amount of compensation, as in the Montenegro bonus, was received by the president and members of the Board of Directors of the companies Post of Montenegro AD Podgorica and Railway Infrastructure of Montenegro AD (ŽICG).
The Monteputo AD, For the period from 1. 1. to 30. 6. 2025, the total income of the members of the Board of Directors amounted to 20.130 euros, with the monthly remuneration Radojica Popović, the president of the Committee, amounted to 915 euros, and members were paid 610 euros each.
In Ulcinj Riviera, the biggest difference in compensation is between members and the board president, Besim Murati, who received 6.044 euros for his position from January to June, while the members of this body received 3.022 euros each.
The Law on Business Companies will be valid until 1 January 2026, and the Law on the Management of State-Owned Business Companies is in preparation, as is the strategic document, the State Ownership Policy, which will, among other things, provide for the depoliticization and professionalization of the management of state-owned enterprises and assets. Both documents are in the final stages of preparation and will be before the MPs at the autumn session.
This was announced to "Vijesti" by the Ministry of Finance, which is preparing these documents and which, after their adoption, will have centralized supervision over the future work of all state-owned enterprises and state property.
Managerial and depoliticized manner
The adoption of this law and the transition to a managerial and depoliticized way of managing state-owned enterprises is also an obligation of Montenegro from the Reform Agenda towards the European Union in the accession process. This was previously requested in their recommendations by the World Bank and the International Monetary Fund.
The Ministry said that the Government's work program for 2025 envisages the establishment of the Draft Law on the Management of State-Owned Companies, and that they expect that during the fourth quarter of the current year (October - December) the draft law could be submitted to the parliamentary procedure. The key innovation envisaged by this law is the transition from a decentralized management and supervision system to a more centralized model (more precisely, a coordinated model) in which the organizational unit of the Ministry of Finance will play a coordinating role in performing the ownership function.
Also new are the clearly defined goals of state-owned enterprises, the establishment and maintenance of the Register of State-Owned Enterprises, the prescription of clear conditions for the establishment of state-owned companies, the setting of expectations and specific goals, the professionalization of management bodies, and the clear definition of reporting lines.
"Vijesti" obtained the information on fees using MANS's "Ask Institutions" application.
For EPCG, CEDIS and "Budvanska Riviera" fees are a trade secret
Elektroprivreda Crne Gore AD Nikšić (EPCG), Montenegrin Electric Distribution System (CEDIS) and “Budvanska rivijera” rejected requests under the SPI requesting data on compensation for members and the President of the Board of Directors.
As stated in the decision, EPCG "in acting on the request in question, determined that the requested information contains data subject to restrictions under Article 14, paragraph 1, item 1 of the Law on Free Access to Information and Article 0, paragraph 43 of the Constitution, and in accordance with all of the above, the request in question was rejected."
The President of the Board of Directors of EPCG is Milutin Djukanovic, and the members are Tahir Gjonbalaj, Neven Gošović, Jelena Anđelić, Prof. Dr. Dragan Lončar, Irfan Husović and Simo Jokić.
In rejecting the request, CEDIS stated that "the requested information relates to a natural person, i.e. it contains personal data, it represents information created for the purpose of regulating the employment relationship between the employer and the employee and can be used exclusively for those purposes."
The Chairman of the Board of Directors of CEDIS is Vladimir Čađenović, and they are members.Dr. Vladan Radulović, Ćamil Kujević, Irena Vućić Popović, Jovan Sinanović, Ilija Miljanić and Dušan Bugarin
"Budvanska rivijera" stated that "The Company's Business Secrets Regulations stipulate that the following are considered business secrets: employment contracts of employees, data and documents on salaries and other income. Article 16 of the Law stipulates that access to information is restricted if publishing the information would significantly jeopardize an interest of greater importance than the public's interest in knowing about that information. Since the requested information is a business secret, the request could not be processed," "Budvanska" emphasized.
The Public Company Regional Water Supply, the Pljevlja Coal Mine and Montenegro Airports did not respond to the requests within the legal deadline.
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