Parliament passed an amendment to the Act on State Strategic Interests in Privatisation in effect from 1 March 1997. This new amendment postpones the privatisation of four major Slovak commercial banks (Slovak Saving Bank, VUB, Slovak Insurance Company, IRB).
A majority of members of parliament approved the proposal that the above mentioned banks should be treated as strategic companies which should not be privatised until March 2003.
However, according to Prime Minister Meeiar the bank's privatisation will be discussed again.
Consequently, membership of Slovakia in the OECD may be affected by this.
The content of this article is intended to provide a general guide to the subject matter. It is therefore not a substitute for specialist advice.
For further information contact Ruth Clamp, Arthur Andersen Bratislava on tel: +421 7 5340 545, fax: +421 7 5340 542 or e:mail directly to ruth.a.clamp@ArthurAndersen.com or enter text search 'Arthur Andersen' and 'Business Monitor'.
See More Popular Content From