Bohuslav Sobotka, the finance minister, says that the cabinet has approved the ministry’s proposal to wind up the state-owned debt-factoring institution Ceska Konsolidacni Agentura (CKA) by the end of 2007, well ahead of schedule. According to the existing law, the CKA is to be dissolved by the end of 2011.
In addition, Ceska Inkasni, which manages bad assets transferred from Ceskoslovenska Obchodni Banka (CSOB), will also be liquidated sooner than planned, at the end of March 2005. The schedule for closing down the CKA, and its subsidiaries Konpo, Ceska Financni and Prisko, will be specified by an amendment to the CKA law, which is to be ready by September.
