State Companies Should be United Under One Roof, Says Adviser ({{commentsTotal}})

Erkki Raasuke
Erkki Raasuke Source: (Postimees/Scanpix)

Adviser to the Minister of Economic Affairs Erkki Raasuke has proposed a plan to put all state companies under the control of one umbrella enterprise, which would mean a clearer policy on dividends and investments, and would depoliticize management boards.

Raasuke told Postimees on Monday that such an umbrella state company would be under the jurisdiction of the Ministry of Economic Affairs, but high-level decisions would have to be OKd by the Cabinet.

The umbrella company would make the running of state companies more efficient and could bring in an extra 75 to 100 million euros annually, Raasuke said.

In March, state-owned energy giant Eesti Energia was transferred from the jurisdiction of the Ministry of Economic Affairs to the Ministry of Finance, while similar moves for a number of other state companies have also been discussed.

The decision came after the management of several state-owned came under heavy public criticism, with critics saying the economic ministry simply has too many state enterprises under its authority to effectively supervise. The ministry currently controls around 30 companies.