Public corporations and state companies will be required tonotify the Finance Ministry on a monthly or a quarterly basis onthe progression of financial indicators, and to meet certainperformance criteria. Failure to comply with the latter will resultin managers being fined 5,000 to 10,000 lei or even removed fromtheir positions.
The decision was made in the Government's Friday meeting,through an emergency ordinance. Prime Minister Boc said thisordinance would improve financial discipline within publiccorporations and state companies.
"A concrete restructuring plan will be created for eachcorporation and state company and there will be performanceindicators for managers. One needs to be ruthless," said Boc. Hesaid non-compliance with performance indicators could even bepenalised by removing managers from their positions.
Official sources had previously said that the Government hadalso decided via an emergency ordinance that restrictions imposedto public institutions on the acquisition of cars and furniture beextended to include public corporations and state-ownedcompanies.
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