Horvat: Hrvatske Sume board members should withdraw bonus requests

Minister of Entrepreneurship and Crafts Darko Horvat said on Tuesday that the board members of the state-owned Hrvatske Sume forest management company should withdraw their requests for bonus payments because the primary purpose of public companies was not profit making but providing services to citizens and businesses.

"The profit of all the public companies is about HRK 5.5 billion, and this ministry has provided Croatian enterprises with 2.5 billion over the last few weeks, partly through grants and partly through cheap loans. It is futile for us to provide grants for enterprises through cheap sources of financing when public companies are taking these same grants from them," Horvat said while presenting a new loan scheme for businesses, called e-Impulse.

He said that the main problem of public companies was that they did not have new investments and that their restructuring was based only on layoffs.

(EUR 1 = HRK 7.48)

Last update: Tue, 26/07/2016 - 14:53

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