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National Assembly decides state will pay Petrohemija debt
The Serbian National Assembly on Thursday decided that the state will pay HIP Petrohemija Pancevo's EUR 105 million debt to the NIS oil company. Beta is reporting that the legislation has been passed according to which the debt will be paid back from the state budget in six installments, with the first due by December 31, 2016, and the last in June 2019.
Turning the debt of Petrohemija - which manufactures petrochemical products, chemicals and raw materials - into a public debt is necessary in order to ensure that the company operates smoothly and to continue its reorganization according to internationally assumed obligations, the government said in its explanation of the bill.