Sofia, 7 October 1996 (RFE/RL) -- Bulgarian officials plan to begin the decisive phase in the country's long-delayed mass privatization program today.
Citizens will be able to use vouchers to bid for shares in companies whose combined capital amounts to the leva equivalent of $346 million. The plan is similar to one adopted in the Czech Republic.
Yosif Iliev, a Bulgarian mass privatization official, has said that some three million Bulgarians will bid for shares in 968 enterprises, while others companies be included in a later round of privatization.
Under the plan, the government is to retain majority control of so-called "strategic companies," including oil refineries and tourist offices. Banks, arms factories, railroads and power plants will not be privatized.
Citizens will be able to use vouchers to bid for shares in companies whose combined capital amounts to the leva equivalent of $346 million. The plan is similar to one adopted in the Czech Republic.
Yosif Iliev, a Bulgarian mass privatization official, has said that some three million Bulgarians will bid for shares in 968 enterprises, while others companies be included in a later round of privatization.
Under the plan, the government is to retain majority control of so-called "strategic companies," including oil refineries and tourist offices. Banks, arms factories, railroads and power plants will not be privatized.