Romania’s Government adopted yesterday a memorandum that prohibits state representatives in the general shareholders meeting (GSM) of state-owned companies to get paid for this activity. Their presence in the GSM will be considered a job duty.

The memorandum is for now just a Government decision, but it will be formalized in September. The Finance and Economy Ministries will draft the law for implementing the memorandum.

Last week, the Ministry for Public Consultation and Civic Dialogue published a list of state representatives in the boards of state-owned enterprises. Their allowances varied between EUR 7.7 and EUR 30,300 per month. However, the Government’s decision doesn’t affect the state companies’ board members.

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