30mil rewards to those who slash 1,7bil euros!

Once the Finance ministry had a General Directorate of SOEs to exercise control over public enterprises. Many decades and governmebts later, it was proven that the administration of SOEs did not pay any attention since they were refusing to send not just a basic business plan, but even accounting data once a year for inclusion in the annual state budget. Over the past seven years, the Special Secretariat for SOEs was created. The result? Complete loss of all financial control and soaring public enterprise deficits.

Considering all this as a testament that in our country the State Laws have failed, the Finance ministry it a call ts issuing o attract advisory firms from the market, on which it will rely on for salvaging the SOEs.
 
The consultancies are in business

The consultancy will monitor the recovery plans of SOEs, as the State should, but could not do. Their pay? 1 million "up front" and another 29 million from the State budget, if these SOEs can not only recover, but also be privatized!

The plan of the ministry of Finance is described in the text of the proclamation of the international competition by the ministry, which was posted for consultation on its site. The public consultation is being carried out between February 3 and February 9, 2011, at 13:00. Responses should be made by name, in Greek, in both paper and electronic format, no later than February 9, 2011 at 13:00. Anonymous responses will not be considered.

The role of the consultants will cover two areas:

The first part will involve the reform of the presentation of SOE assets in a full and uniform manner. This is because the technical units of the Troika who recently visited the Special Secretariat of SOEs found that neither is the data sent to the finance ministry always right, nor do all SOEs give an account of their expenditures.

The second part of the service is to check daily whether the SOEs are trying to reduce their deficits. So they will check:

* the operating costs of each, budget-aided business (and body of the General Government)
* the implementation of its business plan (return on investment lending)

and will advise the Special Secretariat for SOEs on solutions to reduce deficits and develop fixed and mobile values.

It will also have a say on the inclusion into, or exclusion from the list of SOEs of under-funded or profitable companies.