EPS becomes joint stock company by July

Electric Power Industry of Serbia (EPS) will become a joint stock company by July 1 to demonstrate to citizens that it is operating under conditions dictated by the market, its chief executive Aleksandar Obradović told the company magazine.

The transformation is an obligation from the state’s agreements with the International Monetary Fund and the transition from the status of a public enterprise must demonstrate there is no more room for the company to rely on the government, he was quoted by EPS energija. Net income and efficient operations will be the gauge of success for the state-owned company, Obradović said. The complex has proved to have gone the farthest in reforms and it was the first to start acting on them, he stressed.

The completion of the transition to a joint stock company has the support of the Ministry of Mining and Energy and other ministries, as well as the Government of Serbia overall, Obradović said.