Romanian gov't revokes 2-year ban on sale of state-owned stakes

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Romania's government repealed a two-year ban on the sale of state-held stakes in companies which has been in force since August, the Energy Ministry said on Wednesday.

By revoking the law, the government aims to encourage market competition and avoid the financial deterioration of state-owned companies, the ministry said in a press release reported news portal SeeNews.

The bill was approved by Parliament in June and promulgated by President Klaus Iohannis in August. The new legislation is pending approval by Parliament and the president. According to the bill enforced in August, the two-year ban on the sale of state-held shares in local companies aimed to protect the national interest amidst the economic crisis caused by the coronavirus pandemic. 

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