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President Iohannis challenges the law on the Sovereign Development Fund to the CCR

President Klaus Iohannis has sent to the Constitutional Court, on Friday, an unconstitutionality challenge on the Law on the Establishment of the Sovereign Development and Investment Fund – SA, as well as on amending some normative acts.

The Government decided in its sitting on February 9 to adopt a memorandum on establishing the Sovereign Development and Investment Fund (FDSI).

In early June, the Chamber of Deputies voted the draft bill on the establishment of the Fund with 174 votes for, 98 against and three abstentions, as decision making body in this case.

According to the draft, 33 state-owned companies will be included in the FSDI and the share capital will be of RON 9 billion.

Among the companies included are: Electrica S.A., E.ON Energie Romania S.A., OMV Petrom S.A, Telekom Romania Communication S.A., Engie Romania S.A., Antibiotice S.A., National Company Bucharest Airports S.A., Romgaz S.A. Chimcomplex S.A., Unifarm S.A., Loteria Romana S.A. and IAR S.A.

Ten more companies, against the Senate’s decision, have been included, companies without profit: CFR S.A., Radiocommunications Company S.A., Oltenia Energy Complex S.A., Romanian Post, Traian Vuia Airport in Timisoara, Midia S.A., Administration of Danube River Ports S.A. and National Company for Navigation Channel Administration S.A.

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