Source: MIC
GOVERNMENT RELIEVES ELEM'S SUPERVISION BOARD OF DUTIES
T
he Government absolved the supervision board of the power-producing company ELEM (Elektrani na Makedonija) of its duties, over its allegations against ELEM's director and president of the management board, Vlatko Cingoski, that he unlawfully spent half a million euros of corporate money on sponsorships.At the Sunday meeting of the supervision board and Cingoski, the Government took a decision in Cingoski's favor. Government Spokesperson Ivica Bocevski later explained that Cingoski spent the money on loans that the management board approved to the limited liability companies being part of ELEM, as well as for financing medical treatments of ill people, repaying a debt to the Strumica eparchy, organizing excursions for the killed defenders' children and scholarships.
It was the members of the supervision board who overstepped their authorization, because they failed to set out their allegations to the Government first.
"What is important is that we worked in a highly professional manner and in the company's best interest. We worked for an allowance of 7,000 denars," the discharged president of the supervision board, Arsen Arsenov, told Vest.