English
The International Monetary Fund has requested that the privatization of The Romanian Tobacco Corporation (Tutunul Romanesc - SNTR) be audited, according to Mircea Ursache, president of The State Assets Resolution Authority (AVAS). He added that the audit would be performed by PricewaterhouseCoppers. If both PwC and The Court of Audits come to the conclusion that the privatization operation was fraudulent, it will be cancelled.
The verdict on the SNTR privatization may become known only after the elections this fall, as The Court of Audit will complete its examination of the SNTR case in six months. "The audit began only early this month and will take about six months," said Cornelia Nutu, spokesperson for The Court of Audit. Until The Court comes to a conclusion, The Competition Council cannot investigate whether SNTR received illegal State aid in the form of a pardon of its debts to The State. Competition advisor Jozsef Nemenyi told "Bursa" that the possible criminal side of the privatization case was top priority: "Only after the privatization process is audited can we look into potential monopoly issues or the matter of State aid granted upon privatization." After the audit is completed, The Competition Council has 60 days to pass a verdict on whether State Aid was granted legitimately.
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