GAS DEBT TO BE SUBSTITUTED BY STATE BONDS

Business | October 22, 2001, Monday // 00:00

The non-performing debt of heating companies to state natural gas monopoly Bulgargas will be substituted by state bonds, issued by the Finance Ministry. The measure, which aims at the reconstruction of the heating companies, is included in a report of the State Agency for Energy and Energy Resources, put forward to the Parliamentary Energy Committee. The heating companies will use the bonds to repay their debts to Bulgargas, which will then present them to repay their debts to the Finance Ministry to receive the bonds` cash equivalent.
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