22. 07. 2022. 00:00   >>  17:49

GOVERNMENT OF MONTENEGRO

The decision on the liquidation of Montenegro Works adopted

The Government of Montenegro adopted a decision on the voluntary liquidation of the Limited Liability Company "Montenegro Works". The implementation of this decision will save at least 200,000 euros from the founding capital, said Finance Minister Aleksandar Damjanovic.

Damjanovic said that the company has been operating illegally and without a legal basis for a year, and that contributed to not establishing credibility on the market. He points out that there are several reasons for this decision.

"The intention is to get a mechanism for supervising the management of state-owned enterprises that would be the only sustainable and legally established one," said Damjanovic.

He explained that the company has been financially unsustainable for a year now because the costs are 200,000 euros.

"The company is solely and exclusively financed from the very beginning exclusively from the founding capital. Therefore, there were no announcements about large donations and projects," said Damjanovic.

He pointed out that there was a positive intention that was illegally "packaged" to create an umbrella holding company that would manage all other companies, that is, their shares.

"This cannot be achieved because it is necessary to amend several legal acts.The company did not solve the issue at the beginning and in fact for a year it has been operating illegally and without a legal basis, and this has contributed to the company not establishing credibility on the market in relation to the issue of supervision over the business operations of commercial companies," said Damjanovic.

He emphasized that the implementation of this decision will save at least 200,000 euros from the founding capital.