€12.5 Million for Settlement of Oil Industry Liabilities

Publication: B&H Business Daily
Provider: Poenta d.o.o.
July 11, 2008
€12.5 Million for Settlement of Oil Industry Liabilities RS Government yesterday adopted a
decision on opening a non-specific account in “Nova Banka”, Banja Luka on which €12.5
million was transferred for the purpose of regulating obligations towards 700 "smaller"
trusties of the Bosanski Brod refinery and “Petrol”, Banja Luka. Head of Government’s PR
office, Vera Sajic stated at the press conference that in the privatization of oil sector industry,
RS government took liabilities of Bosanski Brod refinery, Modrica refinery and “Petrol”,
Banja Luka with maturity date September 30 2006. “Russian buyer “Zarubreznjeft’ shall, for
the leveling of these liabilities pay €72.5 million to RS Government by opening of two letters
of credit per €36.2 million”, stated Sajic after the government’s session. A.T. Announced
Corrections in the FBiH Budget FBiH PM Nedzad Brankovic stated that all FBiH ministries
have received notice on correction of individual budget transfers and programs. After being
asked how the government plans to preserve the budget’s liquidity after recent statements on
financial collapse of FBiH budget, PM decisively negated possibility of taking of credit lines
and added that benefits for war veterans and civilian victims of war and other budget priorities
must sty in full capacity. Corrections refer to other parts and they will be done very quickly
according to the equal principle in all ministries, stated Brankovic for the press. A.G. Only
100 Million BAM for Social Benefits FBiH Government on yesterday’s session adopted the
draft law on basic social security, protection of victims of war and families with children and
sent it to urgent parliamentary procedure. Department minister of work and social policy,
Perica Jelecevic at the press conference stated that one of the most important changes is
introduction of property census as basic criteria for realization of this law. This does not apply
to 100% disabled persons and those in need of outside care and aid. Other change presupposes
that the care for such persons should be given by cantons. If all demands of interested users of
these rights would be adopted, FBiH for its implementation would need about 400 BAM a
year and changes made presuppose only about 100 BAM a year, stated Jelecevic. A.Z.