Opposition's proposal non-compliant with regulations and Montenegro's interests arrives after 10 days

Podgorica, Montenegro (27 July 2016) – Deputy prime ministers of Montenegro, Vujica Lazović (as a representative of the parliamentary majority in the Government) and Milorad Vujović (as a representative of the opposition), exchanged letters earlier today in which they presented final observations on the draft agreement with the A2A company.

In his letter, DPM Vujović proposed the following: "A2A is obliged to sell to the State of Montenegro, and the State of Montenegro has the obligation to buy shares the A2A owns in the Electric Power Industry of Montenegro (EPCG) at a price of EUR 250 million, which the State of Montenegro will pay off in 7 equal annual instalments, with the first instalment to be paid within 60 days of the conclusion of the Annex to the Agreement. The next instalments will be paid within 60 days of the adoption of the annual budget of Montenegro." The Deputy Prime Minister stated that if the A2A rejects this proposal, representatives of the opposition in the Government propose "the adoption of the Draft Shareholders’ Agreement to be postponed until the election of the 26th Parliament of Montenegro and the new Government after the parliamentary elections."

Deputy Prime Minister Lazović said in his response that the first draft of the opposition represents a vague legal concept that is particularly disputable from the aspect of implementation of the existing Shareholders’ Agreement. However, the proposal has been forwarded to the A2A, with a suggestion to appreciate the urgency and deliver their response as quickly as possible. The proposal of the opposition that the signing of the agreement should be postponed until the new government is elected was assessed, for many reasons, as the proposal that does not ensure protection of interests of the State of Montenegro.