Bulgarian Ex Energy Minister Guilty of Conflict of Interests

Business » ENERGY | August 16, 2012, Thursday // 17:53
Bulgaria: Bulgarian Ex Energy Minister Guilty of Conflict of Interests Traicho Traikov, former Minister of Economy, Energy and Tourism, was found to have breached conflict of interest rules during his term in office in 2009-2011. Photo by BGNES

Traicho Traikov, former Minister of Economy, Energy and Tourism, breached conflict of interest rules during his term in office between 2009 and 2011, according to Bulgaria's Commission for Prevention and Ascertainment of Conflict of Interest (CPACI).

According to a Thursday ruling of CPACI, Traikov's conflict of interest violation was due to his participation in a concession granting procedure to Bulgarian industrial minerals company Kaolin AD.

At a time when Traikov had 278 shares in Kaolin AD, he prepared a motivated report and participated in the adoption of a decision of the Council of Ministers for granting a concession to the company for the extraction of subsurface resources from the Balabana deposit on the territory of the Dulovo municipality, Silistra district.

Traikov may have to return his salary for the period of conflict of interest and pay a substantial fine in addition.

The decision of CPACI is to be published on the watchdog's website in a few days' time, according to mediapool.bg, citing CPACI officials.

On July 3, Traikov addressed CPACI on his own initiative after a number of Bulgarian media outlets published articles tarnishing his reputation and his ministerial decisions.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: Traicho Traikov, Energy and Economy Minister, conflict of interest, Kaolin, concession
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria