The Agency for Post-Privatisation Control will be in charge of post-privatisation control of trade companies with more than a 50% state-owned stake, the Privatization and Post-Privatization control Act envisages. The Supervisory Council of the Privatization Agency (PA)will control the activities of the PA. Under the Act the Council will also approve the deals, which are beyond the authority of the Executive Council or require parliamentary approval. It will be an administrative structure with the Cabinet. During the parliamentary debates of the Privatization and Post-Privatization Control Bill Deputy Prime Minister and Economy Minister Nikolay Vassilev said the share of privatised companies has reached 53% over a 12-year period. His remark was prompted by the contradictory opinions on whether PA should have the final say in determining the deals expediency. The opposition insisted that the right be given to the Supervisory Council. Otherwise the transparency of the privatization process may be questioned, they claimed. Minister Vassilev ruled out such an option since in this way the conclusion of 1,600 privatization deals will take about eight years.

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