Банкеръ Weekly



Firms Owe BGL324MN to the State Public Insurance

Health care insurance provisions totalling BGL49,692,172 have entered the National Health Insurance Fund (NHIF) in June, the report of the National Social Insurance Institute (NSII) shows. There is no downward trend; on the contrary, the amount has even increased, NSII' Director General Daniela Assenova commented for the BANKER weekly.
Health insurance provisions for the July 1 - 16 period totalled BGL30,624,271.
According to NSII's report for the first six months of 2001, the Kremikovtsi iron and steel works is the biggest millstone for the social insurance system. By June 30, 2001 the enterprise owed BGL73.9MN, or 22.8% of all companies' dues for the first half of the year! Last August NSII's Supervisory Board rescheduled Kremikovtsi's overdues from unpaid insurance provisions totalling BGL63.7MN. The amount should be repaid by August 30, 2003. After August 2000, however, the iron and steel works again defaulted in paying its insurance provisions and thus its overdues increased by another BGL5.7MN. For that reason, the NSII sent last week claims for levying a distraint on the company's accounts in all
commercial banks.
The Pernik-based steel manufacturer Stomana AD - second on NSII's black list of debtors - is also accruing new liabilities. Its overdue amounted to BGL19.5MN by June 30.
Bourgas Port EAD is third on the list of NSII's debtors, but it is the only one in this group that pays the provisions on time and does not accrue new overdues. In June, 2000 when the NSII rescheduled the company's liabilities, the Bourgas Port was BGL10,658,783 in the red. In end-June, 2001 the company owes BGL6,354,824, to be paid by March 15, 2003.
The Varna Shipyard and Vidachim AD (in liquidation) are also among the big debtors. The former has to pay BGL6,285,511 in social insurance provisions, and the latter's liabilities amount to BGL4,735,059. Two companies - the oil refinery Nova Plama and Quartz - have already been handed over to the Agency for State Receivables. Quartz owes social insurance provisions of BGL4,388,508, and the refinery's overdues total BGL3,330,046.

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