Campeanu said social aid is granted only in case of emergency. She also said Oltchim employees received their back wages for July and will soon get their wages for August. She added the Labor Ministry will be able to step in only if Oltchim’s privatization fails and the company is placed under special administration.
Over 500 Oltchim employees are protesting Monday, asking to be paid their back wages for August and calling for the allocation of funds to resume production and the resignation of Mihai Diculoiu, president of Oltchim trade union. Over 300 employees staged their third consecutive day of protests Friday, September 28.
Ten days ago, the Government decided to grant social aid of RON1,400 to each employee, in two tranches, from the Labor Ministry’s funds. The decision to grant social aid was made based on a memorandum of the Economy Ministry aimed to “counter the negative social effects brought by Oltchim’s economic-financial situation.
On September 21, politician and TV station owner Dan Diaconescu won a sealed-bid auction for the majority stake in Oltchim, after bidding RON203.14 million. The politician outbid Germany’s PCC SE and local businessman Stefan Vuza.
Prime Minister Victor Ponta said last week that Diaconescu had until October 1 to pay for the shares and the money would be used to resume production at Oltchim, namely, as a safeguard loan for maximum six months, until the transfer of shares.
Ponta also said at the time that the Government was ready to appoint a new management at Oltchim, place the company under special administration and resume its privatization with a strategic investor in maximum six months unless Diaconescu paid for the shares in due time.
Oltchim’s privatization is prerequisite for the disbursement of further installments of a EUR3.6 billion loan agreement signed with the International Monetary Fund. (EUR1=RON4.5331)