Under standing agreements with the International Monetary Fund and the European Commission, Romanian authorities need to appoint private management at multiple state-owned companies.

Chitoiu said the first companies to get private management are Hidroelectrica and Transgaz, to be followed by Oltchim, Romarm and Electrica Furnizare.

Romania has also committed to appoint private managers for airliner Tarom, coal mining company SNLO, railway companies CFR SA and CFR Calatori, nuclear plant operator Nuclearelectrica, elecvtricity transport company Transelectrica and gas producer Romgaz.

In March, former economy minister Lucian Bode said private managers would firstly be installed at state-run companies Oltchim (OLT.RO), Romarm and Hidroelectrica, and then to Electrica Furnizare.

A government document drafted in March revealed the private managers were to be shortlisted by April 30 for Hidroelectrica, Oltchim and Romarm, and by May 15 for Electrica Furnizare and the Oltenia Energy Complex (CE Oltenia).