Serbia Today, 97-06-05

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From: Yugoslavia <http://www.yugoslavia.com>

Serbia Today

CONTENTS

[01] SERBIAN GOVERNMENT SESSION ON THE IMPLEMENTATION OF THE ECONOMY RECOVERY PROGRAM

[02] EXPERTS MEETING: "NIS AND PRIVATIZATION"

[03] MILORAD VUCELIC'S INTERVIEW FOR VECERNJE NOVOSTI

[04] MINISTER KANAZIR RECEIVED THE CHINESE DELEGATION

[01] SERBIAN GOVERNMENT SESSION ON THE IMPLEMENTATION OF THE ECONOMY RECOVERY PROGRAM

Serbia Today, 1997-06-05

Yesterday the Serbian Government session chaired by Prime Minister Mirko Marjanovic, the report on the implementation of the Economic Recovery Program was discussed and approved. It has been remarked that in May full stabilization of prices, goods and services has been achieved. In the debate it has also been pointed out that the general stability of prices, goods market and dinar rate is not accompanied by an adequate interest rate reduction policy, envisaged by the economic policy guidelines.

The Serbian Government also approved the program for the harvest, processing and export of fruit. The production of 191.000 tons of early fruit. Due to the great international market demand, the exports of fruit. vegetables, wild fruit and processed fruit will provide a hard currency revenue of 164 million dollars. Seventy per cent of this figure will be covered by sales of early fruit and processed fruits.

In order to ensure funding for the enhancement of the agricultural machinery production the Government instructed the Republican Commodities Reserves Administration to promote - within the fourth issuance of short term bonds, a new series of government papers of value worth 25 million dinars (with a 30 days maturity as of the issuance date) and a monthly interest rate of 3.5 per cent, as well as an ancillary series of bonds of the same value whose maturity and interest rate are to be determined by the Yugoslav Central Bank.

The Government also discussed the report on the status of the hail-defense system for 1997. It has been observed that all 12 centers encompassing a network of 1307 active anti-hail stations throughout Serbia are operational, allowing anti-hail defense in 144 municipalities with 4 million hectares of farm land.

[02] EXPERTS MEETING: "NIS AND PRIVATIZATION"

Serbia Today, 1997-06-05

In its June 5th edition, Politika daily published the speech Prof. Dr. Dragan DJuricin delivered yesterday at the meeting entitled "NIS and Privatization", in which he stressed that "ownership transformation will follow three different formulas". The first will be pursued by companies that can tackle privatization relying on their own assets and financial potentials. The second will companies transformed according to the special Government program, and the third formula concerns public companies."

Speaking about the companies that will face ownership transformation according to the second formula, Dr. DJuricin explained that generally lack financial strength and do not enjoy a monopolistic position They are "companies characterized by a controversial business standing". They do have a profit making potential, but are also illiquid or operate with losses. They are incapable of formulating the plan for the pay-off of shares, because they lack the strength to accrue assets. On the other hand, these companies have a strategic importance for the national economy, close and broad business ties with other enterprises, and large personnel so that lay-offs or liquidation would generate a major social problem. These companies have to be sold for one German mark - so to speak. They are literally ghosts within the economic system, because their entire capital is in the hands of the creditors.

Speaking at the meeting, Prof. Dr. Dragan DJuricin also revealed that the latest version of the Law on Ownership Transformation includes provisions for the return of old hard currency savings. About ten per cent of the funds left after the completion of all the phases of sales of shares, will be made available to shareholders - who held hard currency savings. They will be given bonds in exchange for their savings with a ten-year maturity and 6 per cent interest rate. The bonds will be salable twice a year and convertible into company shares.

[03] MILORAD VUCELIC'S INTERVIEW FOR VECERNJE NOVOSTI

Serbia Today, 1997-06-05

Mr. Milorad Vucelic - Vice-President of the Socialist Party of Serbia (SPS) stated - in an interview published by Vecernje Novosti daily on June 4th that he "is convinced that the memories of revolutionary seizure of power have to be rejected and that the only way a political party can rise to power is - through elections".

Commenting the current SPS policy and its effects, Mr. Vucelic stressed that "one of the undoubted merits of this policy lies in the fact that Serbia has been united, "removed" from the war, and that new Yugoslavia has been formed. This policy prevented the civil war in Serbia, and protected the Serbian nation from genocide. It has also allowed the creation of the Republic of Srpska. This is a major asset, and it can not be questioned. Today our concern for national interests is focused on reforms, further democratization of our society and the re-integration of Yugoslavia into the international community."

Speaking about the changes our society is going through, Mr. Vucelic stated - "we believe that our entire economic system has to be changed, to allow it to function properly, and that a social program has to be formulated based on a developed and modern market economy."

Commenting the SPS cadres policy - Mr. Vucelic underscored that ".. this represents a major problem, partially due to the lack of adequate figures, and also to the fact that the same people are being "rotated". Another problem lies in the fact that the wrong people are being appointed to public offices, and they often compensate the lack of skills with extreme loyalty, patronization and servility "

Asked to comment the issue of national interests, Mr. Vucelic replied that: "there can be no secession of Kosovo or any other part of the national territory for that matter. We will defeat any secessionist policy."

[04] MINISTER KANAZIR RECEIVED THE CHINESE DELEGATION

Serbia Today, 1997-06-05

The Serbian Minister of Science and Technology - Academy Member Dusan Kanazir and the Chairman of the Serbian Institute for International Scientific, Technical, Educational and Cultural Cooperation - Dr. Boris Iljenko received yesterday - at the Serbian Government Building - the Chinese delegation from the Shanghai Province and Municipality - headed by Mr. Hua Yood, Chairman of the Science and Technology Committee.

During the meeting, the Chinese guests have been informed about the Serbian Government activities an policy in the sphere of science and technology, and about the efforts made by the Ministry of Science and Technology in promoting research activities - on natural, social and technological sciences. Furthermore, the activities of the Institute for International Scientific, Technical, Educational and Cultural Cooperation have been presented to the Chinese delegation to illustrate the cooperation programs established with countries throughout the world.

According to the visit agenda the Chinese delegation from Shanghai will visit the Corn Institute in Zemun Polje, the PKB Molecular Biology and Genetic Engineering Institute, the "Agroengineering" Co., the Livestock Institute, the Lola Corporation and the Vegetable Center of the Agricultural Research Institute in Smederevska Palanka. Several scientific research institutions in Montenegro will also be visited by the Chinese delegation.

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