Montenegro's Cabinet meeting

Podgorica, Montenegro (3 November 2016) -- At the session held earlier today, the Montenegrin Cabinet discussed the Draft Law Amending the Law on Budget for 2016 and the Draft decision on issuance of government bonds, but postponed the decision on these items. Cabinet tasked heads of working bodies to hold tomorrow a joint session and once again consider these issues in detail on the basis of innovative proposals, and then the Cabinet will reach a decision.

At today's session, the Cabinet also adopted a report on the procedure for granting a concession on the basis of an energy license for construction of the "Šeremet potok" small hydro power plant and passed the Decision on granting a concession for the construction of the power plant. It also accepted the concession agreement for the construction of the energy facility, which is assigned to the "Nord Energy" company from Andrijevica. The concession contract, among other things, establishes a concession period of 30 years and a 6.1% concession fee. Furthermore, the contract provides for transfer of ownership of land and buildings of the small hydro power plant from the concessionaire to the State, and also establishes the reasons for the possible termination of the contract. Deputy Prime Minister Milorad Vujović, and ministers Raško Konjević, Goran Danilović and Boris Marić, singled out their opinion regarding this item of the session’s agenda.