prijava
SARAJEVO, January 23 (FENA) – For more than a year we have been intensively monitoring the activities related to the restructuring of the Agrokor Group in FBiH. Thanks to previous experience, we have entered this process very responsibly in order to ensure the maximum possible protection of the most vulnerable groups in this case, i.e. suppliers and employees, said Fadil Novalić, Prime Minister of the Federation of BiH, after today's meeting with the representatives of Mercator and Konzum in BiH and the Association of Employers in FBiH and trade unions.
Prime Minister Novalić recalled that this was not the first case of this kind, and unfortunately, as he said, it will probably not be the last. However, for the first time, the government got actively engaged and prevented an unwanted scenario, which has already happened, for example, in the case of Tuš, Merkur, SCT...
“From the very beginning, we especially insisted, not only in the Federation of BiH, but also at the cross-border level to have restructuring plans presented to us, as well as the measures to mitigate the consequences for suppliers and employees. As someone who comes from the business sector, I am not a supporter of state's interference in the market, unless it is absolutely necessary, or if the effects of intervention will not be greater than the damage that such intervention can produce.
We also know that in the critical period we have established a legal framework for the possibility of intervention in case of need. We are intensively following the developments, regarding the restructuring plan that Agrokor has prepared for BiH. Four activities were crucial in this regard: increase of capital in Konzum, transfer of business to Mercator, retention of jobs, reaching an agreement with suppliers,” explained Novalić.
He pointed out that Konzum's capital increased from 24.9 million KM to as much as 92.5 million KM, by recapitalization by Sarajevski kiseljak and Ledo. This has created preconditions for remedying the situation in Konzum and reaching agreement with suppliers. Also, the presence of Mercator at their old, well-known locations is already visible. Of the 80 planned stores, takeover has been completed in 78 of them, and in the next month it is expected to take over the remaining two. Since September 2017, gradual redistribution of employees has been carried out, and almost 1,300 employees from Konzum have been transferred to Mercator.
According to the data available to the FBiH Government, suppliers have reached agreements with the Group and what remains now is to implement them. The total debt to domestic suppliers has been reduced by more than 40 million, from 130 million to 87 KM.
“In cases of such major restructuring processes, it is not possible to completely avoid risks and damages, especially since all events in BiH are under strong influence of events in Croatia. It is quite clear that this is a process that will continue. Furthermore, it is clear that everyone cannot be completely satisfied. However, I think the whole process is moving in a positive direction. The most important is to preserve the maximum number of jobs, and to continue cooperation with suppliers. It is not in the interest of anyone to cause or experience disturbances in the market,” emphasizes the FBiH Prime Minister.
“The Government's task is not to disturb the market principles by interfering with the restructuring process, but it is our obligation to protect the stakeholders and ensure full compliance with the law, in particular the Labor Law and the Law on Financial Operations,” said Novalić.
Asked why the government has not activated the Ordinance, Novalić replied that the legal framework was established in the critical period of the beginning of the implementation of the restructuring process "in order to give us a possibility of intervention in case of need".
“I do not advocate for state interference in market processes, as long as market mechanisms function. For the time being, the agreement with the representatives of the group is being respected, and they fulfill their obligations. When this is no longer the case, we will be able to intervene,” explained Novalić.
(FENA) S. R.
