1. In order to promote a better
understanding of the various privatization techniques and greater
trust in the privatization process as a whole among entrepreneurs
and the general public, it is necessary:
- to launch an information campaign about
the current legislative framework of privatization, the alternative
possibilities and the types of preferences. It should be
accompanied by measures to enhance professional know-how at state
and municipal privatizing authorities, as well as banks, public
organizations, etc.;
- to provide maximum publicity on the course
of privatization, as well as the state and development of the
privatized enterprises. The generally positive tendencies in their
post-privatization behavior would considerably enhance public
interest and trust in privatization as a whole;
- to improve preliminary promotion work
concerning the enterprises, separate parts or assets which are
subject to privatization;
2. Concerning the privatization
procedures, the authorities in charge of privatization ought to
seek:
- to reduce as far as possible the duration
of the privatization process. Experience has shown a substantial
deterioration in the state of the enterprises which are in the
process of privatization. This does not only concern their
finances, but the state of the property, the equipment and
facilities, supplies and reserves, etc. From this point of view,
and in order to concentrate in time the supply and demand for
privatization objects, it would be most appropriate to bring the
privatization process within a reasonably short term of
time.
- to provide maximum publicity and openness
of the privatization procedure both in view of attracting investors
and of gaining public trust in the process.
- to simplify as far as possible the
privatization transactions. For that purpose it is necessary to
limit the conditions (especially non-financial ones) of the
transactions. This would facilitate buyers by providing greater
opportunities for development and restructuring of the enterprises
after privatization. It would likewise allow privatizing
authorities to make a more straightforward choice of buyer in the
case of tenders and negotiations. Reducing the conditions of the
transaction to the strict minimum would provide better
opportunities for post-privatization control over the agreed
commitments, as well as legal stability of the
transaction.
- to improve the state of post-privatization
control. The existing legislative framework of privatization does
not in fact regulate the question of the control, both over the
process itself, and the fulfillment of the conditions stipulated in
the contracts. A governmental regulation on privatization and
post-privatization control is therefore called for.
Furthermore, it would be appropriate for the
sale contracts themselves to stipulate the objects, as well as the
forms and term of post-privatization control, concurrently with the
respective forfeits and other conditions. The sale contract could
even include provisions for the buyer himself to take on certain
aspects and forms of control, for instance providing information to
the seller on a regular basis about the fulfillment of the contract
conditions: number of employed persons; realized investments;
ecological improvements, etc.
| 
