Serbia's potential new arrangement with the International Monetary Fund (IMF) is expected to set out plans for 12 key state-owned companies, finance minister Dusan Vujovic told TV broadcaster RTS. The new programme will define the steps the 12 companies shall undertake, including reducing wages - the first time that such conditions have been included in an agreement between Serbia and the IMF.
The 12 firms include Telekom Srbija, railways operator Zeleznice Srbije, power grid operator EMS, power producer EPS, postal operator Posta Srbije, state roads operator Putevi Srbije and water resources management firm Srbijavode.
Some, probably including Telekom Srbija, will be fully or partially privatised. Some just need restructuring to become more effective, while others may be offered to investors under concession agreements.
Telekom Srbija needs a strategic partner as the company is struggling to compete with rival operators without external financing, Vujovic said. The government also hopes to raise substantial revenues for the sale of the telecoms operator.
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