Hungarian Parliament set up a committee to investigate the privatization of sugar factories

10 August 2011

On 14 July 2011 the Hungarian parliament established a new committee to investigate the privatization of Hungarian sugar factories. The committee has 16 members and will meet weekly. It shall deliver a report on the former privatization of twelve Hungarian sugar factories.

The committee will investigate the following issues:

  • decisions and agreements in connection with privatization,

  • auditing of compliance of purchasers;

  • basis and criteria of decisions;

  • state and governmental authorities involved in the proceedings;

  • liability of former governments;

  • reasons resulting that only foreign investors could acquire ownership in the factories;

  • consequences of Hungary’s accession to the EU on the proceedings.

The committee was established due to serious increase of sugar prices in Hungary – the price approximately doubled in one year. Currently only one factory produces sugar for the Hungarian market.

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