Budget, Energy, Financial Services, Legislation, Lithuania

Prime Minister Algirdas Butkevicius remembered state enterprises that manage assets worth nearly LTL 16 billion (EUR 4.6 billion) and boast growing profits but pay little dividend to the state treasury.

On Wednesday the Cabinet will decide what share of distributable profits state enterprise Lietuvos Energija will have to pay to the state budget as dividend. Due to the fact that the company is participating in the implementation of strategic projects it is seeking to reduce the portion of dividend to be paid to the state from 80 to 60%. In monetary terms 80% of dividend would be LTL 113 million (EUR 33 million) while 60% – LTL 86 million (EUR 25 million).

Chair of the Seimas Committee on Economy Remigijus Zemaitaits says that the reason provided by the company is not good enough. Especially as the energy company has not paid a penny to the state budget in a couple of years.