Accusations for the privatization of the former bread factory/ Ahmetaj: The incinerator media will not prevent me from speaking

2023-10-11 12:41:00, Aktualitet CNA

Accusations for the privatization of the former bread factory/ Ahmetaj: The

The former deputy prime minister Arben Ahmetaj has reacted again from the escape in relation to the report filed against him for the privatization of the former bread factory.

He takes aim at the incinerator media, raising questions about how the story got out of them earlier and questioning whether they are trying to pressure him not to speak.

Ahmetaj emphasizes that even if this is the goal, he will not stop talking, while publishing the accounting expert's report and the documents signed by him in 2014, 2015 and 2018.

The former Minister of Finance describes the charges brought against him as a second act of political-justice tragedy-comedy.

In a status on social networks, the former deputy prime minister says that the case of "Buka" sh.a. is one of the few times in a privatization procedure where the state's shares increase several times in value.

He says that there is no damage to 7 billion ALL, but he claims that this figure is the benefit he has brought to the state.

Arben Ahmetaj, again accused in SPAK/ Another accusation weighs on him
October 8, 11:46

The former Minister of Finance explains the charges raised one by one and declares that his responsibility is not related to the evaluation of state shares in commercial companies operating in non-strategic sectors.

Full statement:

Act II of the political-justice tragedy-comedy: The "Buka" file.

..."Anything can happen, we live in Tirana"!

For anyone who has interest and citizen curiosity to understand in more detail what has happened in this privatization procedure, I decided to share with my followers in this common communication window, in which they are a part of their wish, some facts that would throw light on the shadows of the latest media "sensation" for the "Scenic Dossier no. 2", or the privatization of the state shares of the company "Buka" sh.a.

First, the case of "Buka" sh.a. is one of the few times in a privatization procedure where the state's shares are not only preserved, but increase several times in value, or in other words, the state receives more income. So, dear journalists and media who report on damage to the state in the amount of 7 billion old lek, etc., etc., please read. To confuse harm with benefit is not at all at the level of the dignity of your work. How, anyway, can damage be caused to the state budget if the state shares increase?? The opposite would be true.

Second, what are the key moments in this matter:

o 2004 - The procedure for the privatization of the company "Buka" sh.a. was started in 2004 (that is, almost 20 years ago) by the then Ministry of Economy and Privatization (Order No. 11 dated 21.01.2004).

o 2005-2006 - After a lawsuit filed by the Myderizi family, as owners of shares from the land with an area of ??6,370 square meters owned by them, the Court of First Instance in 2005 (Decision 3361, dated 30.05.2005) and then the Court of Appeal with a final decision (no. 803, dated 27.06.2006) decided to cancel the order of 2004 and charged the Ministry of Economy to issue the administrative act for determining the formula for the privatization of the company "Buka" sh.a., after to determine and transfer the shares of the Myderizi family, at market value.

Accusations for the privatization of the former bread factory/ Ahmetaj: The

o 2014 - Pursuant to the Court's decision and according to the laws in force, the Ministry of Economic Development, Trade and Entrepreneurship (MZHETS), which I headed at that time, started the procedure for the privatization of the package of state shares in the company "Buka" JSC also requesting the determination of the value of the package of state shares in this company and the appointment of the group of authorized accounting expert and valuation expert. (Letter 322/2 dated 30.01.2014).

The report of the accounting expert and valuation expert, in April 2014, carried out on the basis of the law on "Traders and commercial companies", "On accounting and financial statements", "On legal audit, organization of the profession of registered accounting expert" and the approved accountant" and "For the national registration center", has determined the percentages and the formula for the privatization of state shares as well as the shares that will be transferred to the former owners. According to the new assessment: (1) the percentage of shares of the former owners increased to 4.73% of the company's capital, from 3.12% that was before, for the land area of ??8,320 square meters, (of which 6,370 square meters of to the Myderizi family) through the correction of the surface and the value of the land. (2) The value of the company's shares increased reflecting the market value from 844.2 lek/share to 2,599.4 lek/share, or an increase of 300%. Consequently, the separate package for the complainants, the former owners of the land on 5 Maji street, has increased, after the revaluation with the market value, by 300%.

MZHETS made available to the former owners (including the Myderizi family) the tax package of 4.73% of the company's shares, separating it from the package of shares owned by the state, i.e. 45.977%, which it took out for privatization.

o June 2014 – Tirana Administrative Court rejected the request of the Myderizi family for a measure to secure the shares of the company, the cancellation of the auction for the privatization of the package of shares owned by the state and the cancellation of Order 382/2014 of the Minister of MZHETS. Which means, that the Ministry of Economy could follow the procedure.

Accusations for the privatization of the former bread factory/ Ahmetaj: The

o 18.06.2015 – After the submission of the request for privatization and the privatization file by the Ministry of Economy and its assessment based on the law, the Ministry of Finance held the auction for the privatization of the package of shares owned by the state of the company "Buka" sh. a.

Accusations for the privatization of the former bread factory/ Ahmetaj: The

o 2017 – The Myderizi family continued their legal battle by appealing the case to the Administrative Court of Appeal. In November 2017, the latter not agreeing with the evaluation carried out by the independent expert, (Decision 4959, dt. 30.11.2017) decided to repeal Order 382/2014 and the auction procedure of 2015. The question is, does the Minister answer for the evaluation of the authorized accounting expert and the evaluation expert? No. The law on the privatization of companies in non-strategic sectors has a clear procedure and assessment.

o 2018 – With the clarification of the Court's decision, as Minister of MZHETS, I ordered (Order no. 303/2018) the repeal of Order 382/2014 and the repeal of the auction procedure dated 06.18.2015. This is where my knowledge of this procedure ends, as from January 2019, I left the position of Minister of Finance.

Accusations for the privatization of the former bread factory/ Ahmetaj: The

In conclusion:

1- The Minister of Economy is responsible for the development of state property privatization policies and the initiation of the privatization process in accordance with the laws in force.

2- The Minister is not responsible for the assessment of state shares in commercial companies operating in non-strategic sectors. This task is assigned to the experts, the authorized accounting expert and the valuation expert, who are independent, licensed and have legal responsibility for the valuations performed.

3- The authorized accounting expert and the evaluation expert make the evaluation report of the company and submit it to the Ministry of Economy.

4- The Ministry of Economy submits to the Ministry of Finance the request for the sale of the package of shares owned by the state, accompanied by the relevant privatization file.

5- The Ministry of Finance makes the assessment in accordance with the law and conducts the auction.

What is the criminal offense in this file? Where is the abuse of office? To be accused of abuse of office because the state's shares were protected? Am I accused of having harmed a private person? As the Minister of Economy and therefore a representative of the state owner (Council of Ministers), I have protected the interests of the state, while the private sector has received its share according to the independent assessment that was made to the state company at the request of MZHETS?

The accounting expert and the valuation expert estimated in 2014 that since 2004 the value of the land had tripled. Consequently, the value of the company increased, but the distribution of shares also changed; private shares increased from 3.12% to 4.73%, while state shares decreased from 50.71% to 45.977%. The value of the shares increased by 300%, reflecting the market value, in implementation of an effective decision of the Court.

With which mathematical formula, the private shareholder who owns 4.73% of the company's capital can benefit from the old 7 billion lek, as he claims today, while the entire company (ie the complete package of 45.977% of state shares issued for sale) is estimated at about 3.4 billion old lek?

With what mathematical logic, the 6,370 square meters of land that the Myderizi family has is more than 30,000 square meters of land and over 10,000 square meters of construction area - not including other company assets - owned by the state?

If we were to accept the claim of the Myderizi family, that the taxable part of their shares should be assessed as a separate area and not as part of the capitalized assets of the commercial company, which the law does not allow, we would have to act in the same way for all other shareholders of the company according to the principle of equality between shareholders. Not only would we be in violation of the law, but the Albanian state would end up with ZERO shares, out of the majority of 45.977% it owned. This would be a waste of duty!

Finally, participation in the auction for the privatization of state-owned shares is open, unlimited and anyone can participate, including the family in question. The Ministry of Finance, through the agency for the privatization of state property, also performs the legal screening and fulfillment of the legal criteria of the file, before the auction.

This is the famous file of the privatization of the company Buka sh.a for those who want to understand the truth. Find me if you can, where has the law been violated by me as Minister of Economy?

And how is it possible that the news came out first in the incinerator media? Do they do it for pressure? To prevent me from speaking? It won't happen...

But it could happen, perhaps, that I break a record in relation to the Albanian justice system, I become the first official to be accused of dereliction of duty because I have protected, based on the law, the shares and the interest of the state... Anything can happen, we live in Tirana!