Банкеръ Weekly

Briefs

AN ESPECIALLY CREATED COMPANY TO COLLECT ELECTRONIC WASTE

Companies trading with electronics and domestic appliances will establish a joint-stock company on July 17 which will collect and utilize waste from these appliances. The company will be created in accordance with the respective regulation of the Ministry of Environment and Water. Among its creators are the Association of Industrial Capital in Bulgaria, the Bulgarian Industrial Association, the Bulgarian Chamber of Commerce and Industry, the Union of Private Economic Enterprise, the Bulgarian Association of Information Technologies, etc.
If there is good coordination, by next September there should be licensed infrastructure and a licensed operator who should take care of the collection, treatment and preservation of waste. The purpose of the new institution is not to make profit but to gain control over the collected funds and their utilisation.
The company will get revenues in the form of licence fees payable instead of the product fee that will be due by companies to an entity responsible for managing the preservation of environment at the Ministry of Environment and Water. Experts say the simplest processing installation costs more than EUR2MN.
Preliminary agreements have been reached with several companies such as the Plovdiv-based Non-Ferrous Metals Combine AD in which waste containing precious metals may be separated and processed. The part of the waste that cannot be processed in the country will be exported.
The regulation on waste resulting from electrical and electronic equipment no longer used had to become valid on July 1. However, producers and importers requested a six-month delay of its part dedicated to the collection of product fees. On its session held on July 6 the cabinet decided that the payment of the fees start on September 1.

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