The Government approves the Privatization of the Kosovo Post and Telecommunications

The Government approves the Privatization of the Kosovo Post and Telecommunications

Prishtina, 16 April 2013

The Government of Kosovo held its 125th meeting, in which it approved the Report of the Government Committee on the Privatization of the Kosovo Post and Telecommunications and required the Committee to proceed with further procedures and deadlines for the privatization of 75% of the shares of the Kosovo Post and Telecommunications.

The privatization of the Kosovo Post and Telecommunications is being directed by a Government Committee.

The Minister of Economic Development, Besim Beqaj, informed the government cabinet about the development of the privatization of 75% (seventy five per cent) of the shares in the Public Enterprise – the Kosovo Post and Telecommunications, J.S.C.

Minister Beqaj informed the government cabinet that the 75% relates to the sale of PTK operating assets, whereas PTK’s physical assets will be inherited by the new public enterprise, the Kosovo Post, established by the Kosovo Government.

The new enterprise which will be created after privatization will be a strong contributor to the Kosovo budget through the payment of taxes and sharing of 25% of the dividends with the Government of the Republic of Kosovo. The new enterprise has provided guarantees to all employees for the next 3 (three) years and obligations to the Public Enterprise – the Kosovo Post, to use its physical assets.

The Deputy Prime Minister and Minister of Trade and Industry, Mimoza Kusari, advised the government cabinet that the National Council on Economic Development supports this process and she added that the Kosovo Chamber of Commerce, the Business Alliance and the American-Kosovar Chamber of Commerce had also declared their support for the process.