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Cîţu: All state-owned companies will receive a notification to comply with GEO 109

28 July 2020
Economics&Markets
energynomics

The Ministry of Public Finance will send a notification to the state companies in order to comply with Ordinance 109/2011 on corporate governance of public enterprises, because a professional management is needed, with a clear mandate, said the Finance minister Florin Cîţu.

“We have discussions with all companies. I assure all Romanians that all state companies will receive a notification from the Ministry of Public Finance to comply with GEO 109. We need professional management, we need management with a clear mandate. We have economic inspection and will control thoroughly the way public money is used. We also have ANAF looking at the other side. (…) We will notify everyone that they must comply with the law, the Ministry of Finance is the one that supervises the application 109 in the economy. Now, more than ever, we are going through this crisis, it is public money that will go to certain companies or certain sectors of the economy, and we need to see clearly how they will use this money. Transparency and professionalism are needed and this can only be done with professional management,” said Cîţu, according to Agerpres.

He also said that on Monday he had talks with Prime Minister Ludovic Orban, with representatives of TAROM and Blue Air, to discuss aid for the two companies.

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