Банкеръ Weekly

Briefs

CITIZENS SUE SOFIA PRIVATISATION AGENCY

Citizens are sueing the Sofia Municipal Privatisation Agency (SMPA) and the Sofia Municipality for delayed bringing them within possession of the real estates they have bought. Twenty lawsuits have been initiated since the beginning of 2002, the agency announced. We, on our part, have instituted 65 legal proceedings against non-prompt payers, SMPA's Executive Director Ivan Dimitrov said. He announced that since the beginning of this year the agency has closed 143 contracts, 118 of which after a tender, and the rest - after a competition. Cash payments under these contracts total BGN8,548,000. Mr. Dimitrov recalled that a total of 1,831 contracts have been closed since SMPA's establishment in August 1993 till November 30, 2002, and proceeds from them amount to USD130MN.Meanwhile, the Municipal Privatisation Fund has financed projects for the capital city's infrastructure, worth USD31MN. Among them is the construction of the Sofia Metropolitan in its section from metro station No 6 to Hristo Botev boulevard, where USD1,592 was invested. USD7.3MN from the fund has been spent on reconstrcution of hospitals and purchase of medical equipment.

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