The arrest of President of Jugoremedija’s small share holders, Mr. Zdravko Deuric, together with two other members of this Assocciation, suggests that Serbian authorithies are now covering up violations of law and privatization contracts, otherwise sanctioned at the politically suitable moment.

We remind that Share Fund allowed the buyer of the 41,93 % of Jugoremedija’s shares, Jaka 80 from Radovis to take over the factory prior to the fulfilment of terms, and illegal increase of the capital fund by debt conversion, making Jaka the owner of 60 % of the shares. In view of such cirucumstances, which shareholders of Jugoremedija have been trying to prove for months, no one was taken into custody, not did the Government took time to check the allegations of money laundry and corruption in the process of buying and selling of the Jugoremedija’s shares.

At one moment, the Government accepted the findings of the Anti-Corruption Council, Assembly’s Board for Privatization, and Securites and Exchange Commission that the procedure was illegal. Ministry for Economy performed a supervision and on 13 May instructed the Share Fund to cancel the contarct with company Jaka. Although the law stupulates that this Fund should act pursuant to the Ministry’s instructions withing the period of 30 days, it did not happen. When the shareholders saw that there were no reaction from the State they organized themselves, and now the State is arresting them in order to cover up the fact that the law was abandoned in favor of the idea of quick privatization.

During months-long blocade of Jugoremedija, on several occasions, Jaka tried to enter the factory on force. Each time a fight between shareholders and private security broke up. Director brought 50 men from the same security who attacked the shareholders previously. When the incident occurred, the shareholders, deceived once again, blocked the factory. On Friday three members of the Association of the shareholders were taken into custody due to the breach of law. At the moment they are sentenced to solitary confinment. On the same day 26 workers who participated in the strike were fired. After the arrest of Jugoremedija’s shareholders, maybe the Anti- Corruption Council should invite citizens of Serbia to stop fighting against the corruption, unless they want to end up in a prison.

President of the Council,
Ms Verica Barac