OREANDA-NEWS. June 30, 2014. More state-owned enterprises will be exempted from the payment of dividends for 2013, under a cabinet decision. At the same time, Finance Minister Anatol Arapu said a real competition was necessary in the economic sector, and nobody should benefit from exemptions.

The total sum of exemptions is over 24 million lei. Among the companies due to be exempted from the payment of dividends, there are Cadastru, Posta Moldovei (Moldova’s Post), Chisinau-based glassworks, Barza Alba winery, Tracom tractor factory, Floare Carpet, Franzeluta bakery and RED Nord-Vest (North-western power distribution grid).

After the cabinet meeting, Deputy Prime Minister, Economics Minister Valeriu Lazar said the enterprises had been selected depending on the importance of the public services they were providing or given that they implemented investment programmes and were in need of money. At the same time, Lazar specified that the authorities had ruled that the money remained at the concerned enterprises, provided that these financial sources are invested in development.

Finance Minister Anatol disapproved of the proposal to exempt the selected institutions from the payment of dividends. “The Finance Ministry categorically does not back this project, taking into account the situation in terms of fulfilling the state budget and the consequences of the regional crisis, which affected the revenues. It is necessary to have real competition in the economic sector and nobody should benefit from exemptions,” Anatol Arapu said at the government meeting.