SEPTEMBER 6 2012 20:06h
ZAGREB, Sept 6 (Hina) - First Deputy Prime Minister and Economy Minister Radimir Cacic and Finance Minister Slavko Linic said on Thursday that the management of the INA oil company should stop searching for an alibi for non-investing.
Other unsuccessful management board presidents have also searched for justification for their failures, Linic told reported after the government session when asked about the poor realisation of INA's investment plans which the management justified by claiming that the government had not met the prerequisites for those investments.
"I am deeply disappointed because they have shown that they lack the necessary quality and successfulness. There is no justification for their failures," Linic said.
He told the INA management board that he expected answers to questions such as when the modernisation of the refinery would starts, when investments would be made into oil and gas fields and when the company would start exporting gas and oil products from Croatia, instead of importing them.
"In the past, two refineries in Croatia had supplied Slovenia, Montenegro, Bosnia and Herzegovina and Macedonia. Until we get the answers we will consider them to be unsuccessful," Linic said.
Unlike the previous government, this government allowed INA to keep its entire profit in order to invest it, the finance minister said.
He also dismissed claims that the government with the 44% ownership share in INA does not have a significant influence in the company, saying that "the government's power is enormous at least when it comes to INA".
INA is a very problematic company when it comes to relations with the government. They depend on the price of oil concessions, on whether inspections teams would start closing their gas stations, etc. INA must have a responsible leadership because the company depends on government decisions in many areas, Linic stressed.
Economy Minister Cacic also rejected claims that the government failed to create conditions necessary for INA's investments.
"I do not need associates who are looking for alibis," he said.