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News from Bulgaria, 96-08-02Bulgarian Telegraph Agency Directory - Previous Article - Next ArticleFrom: Embassy of Bulgaria <bulgaria@access1.digex.net>EMBASSY OF BULGARIA - WASHINGTON D.C.BTA - BULGARIAN TELEGRAPH AGENCY2 August, 1996CONTENTS
[01] BULGARIA, USA: COOPERATION IN ENVIRONMENT PROTECTIONSofia, August 1 (BTA) - Today the Bulgarian Ministry of Environment, the Committee of Forestry and the US Agency for International Development signed an agreement concerning the Biodiveristy Conservation Project. The project, for which the Global Environment Facility has extended four million US dollars, is developed in compliance with Bulgaria's commitments to the 1992 Convention of Biological Diversity. A Memorandum of Understanding between the Government of Bulgaria and the Government of the United States of America was signed for the project's implementation.Bulgaria has managed to preserve a number of its territories with rich biological diversity, declaring them conservation areas. The project provides coordinating of the efforts of state departments, academic institutes and non-governmental organizations, setting financial mechanisms as nature protection taxes and consumer taxes to provide the funds for a program for partial self-financing of the conservation areas and their management. The purpose of the Agreement is to promote the project implementation within the Central Balkan and Rila National Parks. The Balkan Range stretches east-west across the centre of the country and the Rila mountain is situated in Southern Bulgaria. The main result of the partnership on the project will be the drafting and carrying out of a Bulgarian model for management of conservation areas. The studies, analyses, training and other activities in connection with the projects will be complied with the effective legal documents. [02] PROGRAMME FOR PHARE AID TO BULGARIA SIGNEDSofia, August 1 (BTA) - Bulgaria will receive 240 million Ecu under the European Union's PHARE over the next four years. This is what the indicative programme, signed today by Minister of Trade and Foreign Economic Cooperation Atanas Paparizov and Thomas O'Sullivan, Head of Delegation of the European Commission in Sofia, provides for. The amount may be increased if Bulgaria implements the related projects in full. Funds are allocated for the establishment of an Agency for the Encouragement of Exports as early as next year.According to Mr O'Sullivan, the programme signed today is very important and that it is indicative of how the EU and Bulgaria work together for eliminating the difficulties in the economic sector. The share of infrastructure projects rose to 25 percent which makes it possible to improve the conditions for foreign investments in infrastructure and prepare for integration not only through technical aid but by the implementation of concrete projects. [03] PRESIDENT ZHELEV VETOES RADIO AND TELEVISION ACTSofia, August 1 (BTA) - Bulgarian President Zhelyu Zhelev issued a decree imposing a suspensory veto on the Radio and Television Act, the President's press office said today. The act was adopted by Parliament on July 18, 1996.The President contests the law as a whole and in principle due to the large number of objections concerning the basic rules set in it, reads the press release. Zhelev expresses the hope that in the further deliberations the MPs will make efforts to comply the law with the respective provisions in the Constitution, the press release says. Already before the Parliament opened debates on the bill the opposition declared itself against it. Last week Zhelev held consultations on the Act with journalists' unions and national media directors. Representatives of the Free Speech journalists' society also took a stand against the law. National Radio Director General Vyacheslav Tounev voiced the opinion that the law's weak points, if any, will become apparent when the application of the law starts. At present the operation of the national radio and television is regulated by an Interim Statute adopted five years ago. The Parliament is in recess as of yesterday and the act will be re-considered probably in September. [04] COUNCIL OF MINISTERS DECISIONSSofia, August 1 (BTA) - Today the Cabinet adopted a draft intergovernmental protocol between Bulgaria and Ukraine on the construction of the Krivoi Rog ores-dressing works. The document provides amendments to two governmental agreements, dated 1988 and 1989, between Bulgaria and the former Soviet Union concerning cooperation in the construction of the works.The Government approved a PHARE indicative program for Bulgaria for 1996-1999. The program envisages 37 million Ecu worth allocation for the European integration, 60 million Ecu for the private sector, 62 million Ecu for human resources and social development and 80 million Ecu for infrastructure projects. The total amount that will be extended in the four-year period equals 340 million Ecu. A budget allocation will cover 100 percent of the expenses of low- income families on electricity, water, heat power and fuels provided they do not exceed established limits, according to an amendment to a Government decree on the establishment of a target social protection fund, Minister of Labour and Social Affairs Mincho Koralski told journalists today. The budget appropriation is of 700 million leva's worth and it will cover the expenses of 500,000 low-income families. Minister Koralski noted that the payments will be made in vouchers and not in money, which will be a guarantee that the funds will be used as intended. He did not specify the criteria according to which the families which are to receive the financial assistance will be chosen. [05] GOVERNMENT DISCUSSES GRAIN BILLSofia, August 1 (BTA) - At its today's sitting the Council of Ministers continued discussions on the grain trade bill, which is intended to regulate the principles of the state policy in grain purchasing, processing, storing and trading.The draft legislation envisages that by June 30 every year the Minister of Agriculture and Food Processing should adopt a single grain- fodder balance of the country for the next crop year. The bill envisages also that the minimum protective purchasing price of grain, to be taken into consideration by manufacturers and purchasers, should be set by July 31. A national inspectorate will be setablished with the Ministry of Agriculture to exercise control and to suggest to the Agriculture Minister grain traders and stores which may be issued licenses. Specifying the minimum purchase price on the basis of the average international market price is inacceptable, Agriculture Minister Krustyo Trendafilov told reporters today. In his view this is due to the differences between the Bulgarian and the international grain markets. The Government intends to move the bill to the National Assembly so that it could be considered with priority in September, Government Spokesman Nikola Baltov said. Grain shortage appeared as a problem in Bulgaria at the end of last year. This spring bread was in short supply in a number of towns around the country. This year's poor harvest made the Government sign an agreement with the US for imports of grain. Answering an MP question last week, PM Videnov said that bread grain will be imported using foreign credit lines which are being negotiated and in connection with which concrete actions have been taken through representatives of the countries of the European community and other states. [06] CABINET ADOPTS METHOD FOR SETTING RESERVE PRICES OF MASS-PRIVATIZABLE ENTERPRISESSofia, August 1 (BTA) - The reserve price per share in more than half of the enterprises listed for mass privatization will range between 800 and 1,000 leva, the Director of the Centre for Mass Privatization Kalin Mitrev told a news conference after a Cabinet meeting. The reserve auction price is not a fixed price at which individuals will be acquiring shares, he emphasized. It is the lowest level below which no shares will be available for sale, he added. In his view, the actual selling price of shares will emerge in the process of free bidding during the auction session. The Government today approved a method for setting reserve prices of shares in enterprises included in the mass privatization programme. In three centralized auctions that will be held shortly, investment vouchers will be exchanged for shares in enterprises on the list. Privatization funds and individual voucher-holders will be eligible to bid at these auctions. Under an Ordinance on the Conduct of Auctions, which the Government adopted today, the funds will submit their entries before individual investors, thus ruling out the possibility for unfair competition and for funds making their decisions on the basis of the movement of individuals' entries, Mr Mitrev said. The Chairman of the Securities and Stock Exchanges Commission Hristiyan Tanoushev said that under the revised Ordinance, "individuals and funds will take possession of the relevant part of the enterprise immediately after buying the shares." The reserve prices are based on the accounting value per share in the enterprise, i.e. on the net worth of the respective company, said the Chairman of the Auctions Board Yossif Iliev. A reserve price will be set for each of the 1,050 enterprises on the mass privatization list. This price is expected to be under 1,000 leva for 560 enterprises (under 500 leva for 100 of them), between 1,000 and 2,000 leva (mostly 1,000 to 1,200 leva) for 460 enterprises, and over 2,000 leva for some 20 enterprises. These preliminary figures, valid now, will be adjusted for an overall supply and demand factor, calculated on the basis of the correspondence of the participating interests in the enterprises on offer (some 95,000 million leva) to the purchase resources (75,000 million leva worth of vouchers held by individuals and funds), Mr Mitrev said. The Government is also planning to introduce special methods for management of the participating interests which will remain unallotted after the third and last auction.[07] PRICES OF ENERGY RISEThe prices of electricity, central heating, petrol and coal rise as of today, all papers report. Some quote the boss of the National Pricing Commission Dimiter Grivekov as saying on national radio yesterday the new prices of liquid fuels will not raise inflationary expectations. The commission estimates the fuel price hike will lead to a mere 1.16% rise in the commodity prices, "Zemya" and other papers report. The 22% rise in the price of electricity will boost the prices of goods by 1.05% in August, Grivekov told "Troud". According to him, it will keep pushing up living costs in the months to come, but an accurate estimate of this impact is not yet feasible, the paper goes on to say."At its latest secret meeting, the Government of Prime Minister Zhan Videnov again stabbed the nation in the back," "Standart News" writes. Enormous queues stretched at petrol stations in Sofia and elsewhere in the nation, "Standart News" and other papers say in stories on the price shock. Liquid fuel prices have persistently declined on Mediterranean markets, which has not stopped the government from blindly following the advice of the International Monetary Fund (IMF) and the World Bank which urged a price of 1 German mark per litre of petrol here, "Standart News" also writes. The present markup in the prices of energy sources will not be the last this year, as the national currency falls against the dollar and the price of oil on international markets is high, predicts the management of Bulgaria's biggest oil refinery Neftochim in Bourgas on the Black Sea, according to a report in the financial "Pari" daily. [08] IMF CONDITIONSBy the end of 1996 inflation in Bulgaria should be brought down from 20% to 2.5% a month, and by the end of 1997 to 1.5% a month. Annual inflation should not exceed 105% this year and 20% next year, "Troud" writes. These are part of Bulgaria's commitments to the International Monetary Fund, according to the IMF bulletin quoted by "Troud". The bulletin contains information about the standby loan for Bulgaria approved by the IMF on July 19, amounting to $582 million to be disbursed over 20 months, the paper says.According to the macroeconomic framework approved by the Cabinet, Bulgaria's forex reserves should be increased by 50% by December 31, 1996, "Troud" also says. They now stand at $600 million, which means they should climb to $900 million by the end of the year. The sum should cover the import of goods and nonindustrial services for a period of 2.5 months in 1996 and 3.5 months in 1997. Bulgaria's trade surplus should hit 3.1% of GDP in 1996 and 2% of GDP in 1997, according to the framework figures. In the first quarter, however, exports outpaced imports by the unusually small amount of $83.8 million, leading experts to suspect underreporting, "Troud" says, not naming its sources. The trade results for the first half of 1996 will be announced at the end of this month, the paper adds. 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