Republika e Kosovës
Republika Kosova – Republic of Kosovo
Qeveria - Vlada - Government

Ministria e Ekonomisë dhe Financave / Ministarstvo  Privrede i Finansija / Ministry of Economy and Finance

Zyra për Informim / Information Office / Kancelarija za Informacije

Pristina - 29 June 2010

The third Inter-ministerial Committee for the Privatization of KEDS (Distribution and Supply company- KEK) was held in the course of regular meetings.
Attendees: Members of the Committee, Ministers Mr. Yagcilar Mr. Zharku Mr. Rasic, and Mrs. Shiroka - Pula. Also participating were the ambassadors of the Quint Countries, World Bank representatives, representatives of the European Commission, Energy Regulatory Office, KEK representatives, local and international experts in the energy sector and the Transaction Advisors - IFC.

The meeting was chaired by the Head of the committee: Minister of Economy and Finance Mr. Ahmet Shala, who opened the meeting and welcomed the present Committee members, Donors, Partners and Friends of Kosovo.
 
The Minister stressed that the IFC as the transaction advisor has contracted external consultants for legal, technical and public relations. Also as a follow up of the Key Issues Report, IFC has drafted a Letter of Recommendation which suggests next steps to be undertaken by the government in order to enable a successful implementation of this transaction. The Minister concluded by repeating that: "The Government is committed to finish the process in full transparency and that the final formula to set the winner will be exactly quantifiable and objective, based on price and investment, and that there would be no room for subjectivity, misinterpretation and ambiguity.
 
Accordingly, the representative of the Transaction Advisor; Mr. Bernard Atlan, informed the participants for the course of the transaction process and about the publication release of the Expression of Interest. He also said: "IFC believes that it is now necessary to engage in discussions with potential investors in order to address key issues. Based on feedback from investors, we will be able to move forward constructively with the process - said Mr. Atlan.
 
Minister Shala led the meeting without the presence of the media, in which IFC presented their proposals about the challenges and obstacles for the transaction of KEDS - by offering solutions and recommendations in order for the transaction to proceed.
 
Minister Shala opened further discussions with Members of the Committee, Transaction Advisors, Project Implementing Unit, Government Advisors and invited guests concerning the work done and the achievements in this regard.
 
Committee members agreed to examine each case individually, to meet again in the short term to report on the conclusions and actions that are to be undertaken to address the challenges and push the transaction forward.

Minister Shala ended by thanking the Committee members, donors, and others guests for their time and commitment to the future of Kosovo.

Respectfully:
KEK Electricity Distribution and Supply Privatization
Project Implementation Unit
+381 38 200 34 663 ; +381 38 200 34 668
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www.keds-piu.org