The City Hall has made a budget rectification and reallocation that proposes the capitalization of the new company Termoenergetica with 22.85 million lei, is shown in the project proposed by the PMB. The money could enter the company’s share capital.

In total, the proposal for budgetary rectification is about 242.7 million lei and the municipality remains with a budget of 5.95 billion lei, from about 6.2 billion lei, previously provided. Thus, the PMB gave up some infrastructure projects, as well as financing the churches or the Cathedral of the People.

At the same time, the subsidy for public transport was increased by 100 million lei.

The draft rectification will be submitted to the vote of the General Council of the PMB on December 18.

ELCEN’s administrator Sierra Quadrant has repeatedly accused PMB of delaying the capitalization of Termoenergetica.

Autor: Bogdan Tudorache

Active in the economic and business press for the past 26 years, Bogdan graduated Law and then attended intensive courses in Economics and Business English. He went up to the position of editor-in-chief since 2006 and has provided management and editorial policy for numerous economic publications dedicated especially to the community of foreign investors in Romania. From 2003 to 2013 he was active mainly in the financial-banking sector. He started freelancing for Energynomics in 2013, notable for his advanced knowledge of markets, business communities and a mature editorial style, both in Romanian and English.