Bubalo explained that the time has come for the less efficient and less attractive companies to go private. He said that the debt of those companies to the state and state creditors will be written off completely.
He also said that the changes to the Law on Share Fund refer to state owned stock, regulating the sale of package of shares, and preventing abuses by the management in the signing of privatisation prospectuses.
Minister of Labour, Employment and Social Policy Slobodan Lalovic said that this year ends with the adoption of the Bill on safety and healthcare at work. He noted that the law is in accordance with EU directives and the International Labour Organisation (ILO).
Minister of Finance Mladjan Dinkic said that public administration will be cut by 10 percent, but added that the salaries of public servants will climb 8 percent next year.
He said that all ministries will have to complete employee evaluations by February 1, 2005 and to prepare draft systematisation of work positions by March 1.
Dinkic said that salaries in public companies will grow 7 percent, while employees in educational and cultural institutions will see a 13 percent rise next year. Others can expect a 9.1 percent rise during 2005.
The ratio between the salary of a minister and an unqualified worker currently stands at 3.87 to 1, Dinkic said, adding that the ratio will be increased to 10:1.
He also noted that President of the Republic, Parliament Speaker and justices will have equal salaries.
Dinkic said that the special government services that achieve excellent results will be awarded with a 72 percent rise, noting that only 20 percent of employees can count on the rise.
He also said that an additional 20 percent increase in the base can be approved for those employees with good quality performance. According to Dinkic, this will apply to 50 percent of public servants. He explained that ministers, assistant ministers and department chiefs will evaluate their employees quarterly.
Minister of Public Administration and Local Self-Goverment Zoran Loncar said that the shift in the salary system is a project conducted in cooperation with the World Bank (WB). WB experts made an evaluation of the payment system in the Serbian public administration and pointed out certain anomalies. The payment system in the Serbian public administration will be harmonised with EU regulations, Loncar said.