Government postpones the deadline for the use of privatization bonds

Albanian citizens can use privatization bonds until the end of 2016, after the government changed the law on “Emitting and distribution of privatization bonds”, during the meeting held on February 25.

Pursuant to article 3 of this proposed law by the government, the deadline for the use of bonds and privatization money extended until December 31, 2016. Citizens who obtain such bonds can take part in auctions of privatization processes such as state buildings, lands or strategic investments.

Privatization bonds emitted for the first time in Albania back in 1991 and based on official data, until this year there have been emitted about 74.9 billion ALL privatization bonds, 51.2 bl ALL of them have been distributed to Albanian citizens. Only 10 bl ALL privatization bonds have been used in privatization processes and about 41 bl ALL are still unused bonds.

Privatization bonds have been used as investment funds and in legalization processes. In years their value has decreased and increased based on the purpose of their use, but the entrance of them in country’s market is expected to increase their value.

News source/photo credits: ATA