Divisional separation for KESH in order to facilitate privatization

TIRANA, Dec. 22 – In its regular meeting of the Council of Ministers, the government decided to take important steps in order to facilitate the privatization of KESH, the stat owned Albanian energy company. The separation is done through the creation of a corporation with shares owned fully by KESH. This will be followed by the creation of a company called “The Distribution Operator of Energy” (Operatori i Sistemit t롓hp쳮darjes – OSSH ) whose responsibilities will be to regulate the functioning, maintenance and development of the distributing network. KESH is expected to be privatized within 2007. Economy Minister Genc Ruli has requested the accurate balance sheet of the assets while the government has decided to pay $ 240,000 to the International Finance Corporation (IFC), which will act as a counseling company for the entire privatization process.