Prishtinë    22/08/2023

PAK, within half a month, collected over half a million euro from leaseholders’ debts. The Board of Directors of Privatisation Agency of Kosovo held its extraordinary meeting to discuss about collection of revenues generated from leases following the decision made in the last meeting, which stated that all leaseholders shall be subjected to enforcement procedures if they do not comply with lease contract obligations. Consequently, during this month only (starting from 1 to 17 August), PAK managed to collect the outstanding debt from all leaseholders of SOEs, in the amount of 524.334 euros, which resulted from creation of discipline amongst the leaseholders.  

It is worth mentioning that a considerable amount of outstanding debt has been collected from leaseholders of Grand Hotel premises. In the first half of this month only, the amount of debt collected form leaseholders is 167,234 euro, and if we include the collections of previous month (July), the amount of outstanding debt collected by the Agency from the leaseholders at Grand Hotel reaches to 263.000 euros.

The Board of Directors instructed the management to conduct a rigorous supervision and to adhere to contractual and legal obligations without any exemption or distinction. In this spirit, the Agency initiated enforcement procedures and terminated contracts with a number of leaseholders due to failure to pay the debt and for violation of contracts concluded with PAK, and same actions shall be undertaken against all irresponsible leaseholders.

Furthermore, the Board also deliberated in connection with the process of revaluation of leases on the assets of socially owned enterprises in order for the lease prices to be approximate with the market price. In the last meeting only, the Board approved the evaluation of 73 leases, which resulted in an average increase of lease price at 22%, and also instructed the management to carry out the revaluation of lease prices of all leases by the end of the next month in order for the value of lease price to be approximate to the market price.

Finally, the Board also approved 21 new leases (untendered before) through an open and transparent process, and with purpose to rationally use the assets under its management.