04.02.2012 13:08
The State is the majority owner in seventeen and a significant minority owner in twenty-two companies which operate on market terms. In addition, the State is an owner in fifteen special assignment companies which have been assigned a certain task by the State or which do not operate in a competitive environment due to a granted exemption.
As regards companies operating on market terms, the State’s aim is to achieve the best possible overall economic result at the given time. The attainment of the objective is evaluated on the basis of profitability and the long-term growth of shareholder value.
In companies entrusted with special State assignments, the State, as an owner, has primarily social objectives although the general goal of profitable operations applies as well. Profitability is evaluated primarily on the basis of how well and at what cost the company carries out the assignments and achieves the goals set by the Ministry responsible for the administration of the field in question, i.e., how well the company fulfils its social service assignment.
The State pursues an active and pragmatic ownership policy to attain the aforementioned objectives. The State promotes the development of its companies and supports the long-term growth of shareholder value with the means available for an owner.
The State is expected to exercise an open, predictable and consistent ownership policy. The premises for the ownership policy are laid down in the Government Programme.
The State’s objective as a shareholder is to provide consistent and predictable solutions and act as openly as possible. The most important ownership policy tools include Government resolutions, statements of the Cabinet Committee on Economic Policy and recommendations and statements by the responsible Ministries. All of the aforementioned documents are public and thereby available to all market actors.
The Ownership Steering Department in the Prime Minister’s Office is responsible for the overall drafting and coordination of the ownership policy.
