EPS corporatisation to ensure EUR 36 million savings

BELGRADE - The corporatisation of the Electric Power Industry of Serbia (EPS) will bring changes in the public enterprise management organisation and lead to at least EUR 36 million worth of savings, EPS acting director Aleksandar Obradovic said on Friday.

The Serbian government adopted the amendments to the EPS founding acts last week, which represents the first step in the corporatisation that will make it possible for EPS corporative services to be delivered from one single place instead of having each of the subsidiaries provide the services on their own, Obradovic told a news conference.

Obradovic expressed the expectation that the government would adopt the decision on management organisation in EPS subsidiaries by the end of August as well, which will have to make room for complementary corporatisation implementation.

The third step in the corporatisation process will be the search for a strategic partner for EPS and the establishment of a joint-stock company with the government as the majority shareholder, he said.

The aim of corporatisation process is to ensure management and responsibility centralisation, so the CEOs at the top of the management pyramid would be responsible for the entire EPS system, Obradovic said and added that as the acting director, he did not have the authorities to dismiss the directors of the enterprise branch offices in the past.

The second step would be the foundation of the EPS Group with a central management body, and these changes may be launched as this week already, he said.

The corporatisation process will impact the number of employees, with respect for the Labour Law and the Collective contract and in cooperation with trade unions concerning the...

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