About the Agency

 

The Privatization and Post-Privatization Control Agency (PPCA) was established by the government of Republic of Bulgaria in 2010 with the unification of the former Privatization Agency and Post-Privatization Control Agency. The PPCA is supervised by the Council of Ministers of the Republic. The budget of the Agency is provided by the State. The main functions of the PPCA are defined by the Privatization and Post-Privatization Control Act. The Agency is responsible for the accomplishment of the privatization process in the country and the supervision of the concluded privatization contracts.

An important goal for the Agency is to establish and maintain the process of privatization in a transparent and economically effective way and so to provide conditions of equality for the participants in the process and to attract potential investors. The role of the PPCA is even more important because it is the only institution authorized to sell real estate owned by the State.

The Agency is managed by two governing bodies: the Supervisory Board and the Executive Board.

The Supervisory Board consists of seven members elected and dismissed by the National Assembly. The Board controls the activities of the Agency and approves the sales of state property by public auctions or public tenders when the price exceeds the amount of 500’000 BGN. The Supervisory Board approves every agreement between the Agency and the buyers of state property, which alters the conditions (payment dead-lines or others) of the concluded privatization contracts.

The Executive Board is composed of three members – the executive director and two deputy-directors. The members are nominated and dismissed by the Council of Ministers of the Republic. The Executive Board is responsible for the executive and organizational management of the Agency which is represented by the executive director who manages the activities of the Board according to national laws and regulations.

The responsibilities of the PPCA in the area of post-privatization control require the following actions:

  • Control of the payments due by the investor according to the clauses of the privatization contract and laying of suits in order to collect these payments;
  • Demand information from the investor when breach of the conditions of the contract is suspected;
  • Maintain regular documental control to provide observation of the clauses of the contract;
  • Break the privatization contract when the investor does not adhere to the conditions of the contract;
  • Create statistical reports for the actions taken by the Agency;
  • Interact with other authorities and institutions in order to protect the interests of the State in the process of post-privatization control.