Member of the Seimas: if mik urdij is a joint-stock company, the controlling stake may not be in the hands of the state

Added a comment by Valdas Kaubrs, head of VMU

A member of the Lithuanian Social Democratic Party faction said at a press conference in the Seimas on Tuesday that additional shareholders of people or persons related to the timber business may appear.

Who can deny that, with the reasoning that this will be more efficient and better management of the Lithuanian mikes, the controlling share package may not end up in the hands of the state, he added.

According to him, both the public and the local community are involved in changing the status of the State Municipality.

The opinion of the public is not listened to, there is no discussion about the changes, he said.

Aidas Pivorinas, a board member of the Lithuanian Musician’s Union and the Association of Private Music Owners, will assure that the attention of the joint-stock company will be directed to game generation, not environmental protection.

According to him, the example of the management of the Latvian economy shows that it is extremely difficult to balance these two areas.

If we have a joint-stock company in the field of mining, we will make sacrifices for the environment, we will use too much of nature, he pointed out, presenting the case of Finland, where a special status company is used for mining.

According to unaudited data, the net profit of the state of Ukraine decreased by 38.7% to 66.2 million last year compared to 2022. EUR, income 10% to 288.6 million. Eur.

The State Municipal Administration was created in 2018, after the reorganization of the State Administration and the merger of 42 departments and the State Municipal Management Institute.

At the end of the year, it is planned to change the legal status of the State of Ukraine to a state-owned joint-stock company.

Mika will not be invested in the company’s fixed capital

After VMU changes its legal status to a joint-stock company, the mikas will remain the constitutional property of the state, and the company will manage them with the right of trust, as they do now, the mikas will not be invested in the company’s fixed capital, assures Valdas Kaubr, VMU general director.

The restructuring will help to ensure simpler company administration, efficient asset management, development opportunities, even better risk management and will allow to ensure more attractive borrowing conditions, guaranteeing stable returns to the owner state, the manager says.

According to him, the employees will also feel the value, because there will be a wider opportunity to attract and maintain the necessary competences by creating more competitive working conditions and applying a more flexible motivation system.

After the change in the legal status of VMU, the requirements of transparency and anti-corruption will continue to be strengthened and the highest standards of accountability to the state and society will be applied. Thus, after changing the legal status, the integrity of the company’s operations will be ensured by continuing to successfully carry out its current activities and providing new opportunities for growth, attracting competent employees and thus increasing the return to the state, the manager is quoted in the company’s announcement.

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