bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Saturday 27.05.2017 | Name days: Loreta, Dzidra, Gunita, Dzidris
LatviaLatvia

LRA asks Prime Minister to explain usefulness of Prudentia’s services

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUThis Tuesday, 2 June, Latvian Regional Alliance sent a letter to Prime Minister Laimdota Straujuma in which the political party asked to be provided with explanations regarding the exact amount of money that was paid to Prudentia Advisers for its services.

«We believe it is not normal for the state to continue paying taxpayer money worth hundreds of thousands euros to private consultants for services whose usefulness is neither explained nor made clear to society in a situation when that same state has difficulty allocating finances for more important industries and Finance Ministry actively asks state institutions and politicians not to scare people when using the word ‘consolidation’. With that, we ask Prime Minister Laimdota Straujuma to provide us with information on how much money has been paid to Prudentia, what services have been bought so far and how has the state benefited from them,» – notes LRA Saeima faction leader Dainis Liepins.

Latvian Regional Alliance, in accordance with Section 119 of Saeima Rules of Procedure, has asked Prime Minister Laimdota Straujuma to provide explanations as to which state institutions and companies controlled by ministries have been provided with services from Prudentia over the years and how much money, including taxpayer money, has been used to pay for those services. LRA has also asked to be provided with information regarding the benefits those services have provided the state and residents, as reported by LRA.

Last year, Prudentia Advisers worked with turnover of EUR 2.216 million and EUR 270,627 of profit, according to information from Firmas.lv.

In comparison with 2013, the company has increased its turnover and profit.

It is written in the company’s management report that the company managed to achieve good growth rates in 2014 – a climb of 115% in comparison with the year before.

Last year, the company was involved in multiple significant projects, including providing assistance to airBaltic airline in the restructuring of debt worth approximately EUR 74 million. The company also contributed to and provided consultations to Liepājas metalurgs’s insolvency administrator Haralds Velmers to assist in detailed evaluation of assets and their subsequent sale. Prudentia Advisers also worked in other projects as well – strategic consultations were provided to multiple companies working in Latvian pharmaceutical wholesale industry and potential investors were provided recommendations about opportunities in the country’s banking sector, said in Prudentia’s report.

Prudentia also plans to strengthen its position in Latvia. Nevertheless, even with a carefully optimistic forecast for market development and considering market fluctuation risks, Prudentia’s turnover may turn out below the level of 2014.

Prudentia Advisers is owned by Rainis Martinsons (46%), Karlis Krastins (46%) and IBS Prudentia (8%).

As previously reported, services from Prudentia were procured by the Latvian government multiple times in the past without any competition. Prudentia was called in to assist with airBaltic, Parex and Liepājas metalurgs situations.

Ref: 102.109.109.6932


Leave a reply

Municipal elections 2017: what do people say?

With municipal elections gradually coming close, BNN offers a compilation of opinions provided by experts from different industries. Short answers consist of thoughts about specific municipalities that affect respondents directly, and municipal administrations in general – what people expect from officials and what changes they expect from elections.

Trade of natural gas to legal clients in Latvia commences

Trade of natural gas to legal clients in Latvia has commenced. Latvenergo’s Elektrum product offers fixed-price contracts for 12-month supply period. The first gas supply contracts have been signed with clients in Latvia, the company reports.

Murniece: the biggest strength of Latvia’s parliament is public involvement

The biggest strength of Latvia’s parliament is the involvement of the public in resolution efforts of matters associated with child and women’s rights, the rights of disabled people, as well as security, tax policy and the European Union, says Saeima speaker Inara Murniece.

Corruption on decline in Lithuania, yet still remains troublesome

To wrap up the findings of a new corruption research ordered by the Special Investigation Service, an institution dealing with financial crimes in Lithuania, the situation is largely improving, yet not as fast as the service wishes.

Ventspils signs agreement with Chinese-Belarusian industrial park Great Stone

Vetnspils Freeport Authority and Ventspils High Technology Park signed an agreement yesterday with Chinese-Belarusian industrial park Great Stone, which is the largest infrastructure development project in Belarus, as reported by the freeport’s representatives.

Resignation filed by arrested Tallinn Deputy Mayor

The Deputy Mayor of the Estonian capital has stepped down from office after being arrested as part of a criminal case into violations of procedural restrictions of Tallinn procurement tenders.

Residents: situation in Latvia is developing in a wrong manner

54% of residents believe the situation in Latvia is currently developing in a wrong manner. A similar situation is noted in relation to the evaluation of the government’s work. 75% of respondents are critical about the government’s work. Only 17% of respondents are positive about the government’s work, according to results of Baltic International Bank Latvian Barometer.

Finance Minister: we have to be ready for flexibility in the reform plan

Currently we have to progress forward with the intended tax reform and prepare for a degree of flexibility, says Latvian Finance Minister Dana Reizniece-Ozola.

Zarins: unlike healthcare workers, Latvia’s roads are crumbling silently

Saeima deputy Ivars Zarins has submitted a proposal that offers restoring State Roads Fund and providing it with funding of 80% of excise tax for oil products. It is also proposed to divert income from vehicle operation tax and road use fee.

Price of oil slides 5%, though exporters decide to uphold production restrictions

Oil price has dropped by around five percent, even though oil-exporting countries have decided to maintain production limits until spring 2018.

Experts: role of free trade agreements to increase – especially with Asia

Latvian businessmen are already sufficiently active in several Asian markets. Their experience shows – these markets have great potential, according to representatives of the European Parliament’s Information Bureau.

Trump steps up pressure on NATO’s «indebted»

All NATO member states should pay their fair share of military expenses, has stated U.S. President Donald Trump in a meeting of NATO member states in Brussels.

Sunday expected to be summer-like hot in Latvia

This Sunday is expected to be summer-like hot, whereas the week after will be cold and rainy, as reported by Environment, Geology and Meteorology Centre.

Pensioner guide: old people are isolated from society in Latvia

«In my experience with social care, I was surprised by the dominating belief that the only thing old people need is elementary care – some food, a wash and a walk outside. Psychology of old people is something completely alien to people in Latvia,» says initiator of Pensioners Guide in Latvia Nelli Skadina.

SEB: reimbursements paid to nearly 340 loan clients over the past five years

In five years since the signing of the first loan payment insurance contract, reimbursements have been paid to nearly 240 SEB Bank clients who took loans and experienced unexpected difficulties after.

Number of tourists to Riga up 7% in 2017

In the first three months of 2017, a total of 263.5 thousand people were serviced in Riga’s hotels and tourist accommodations. 221.3 thousand of those tourists were foreign guests. Compared with the same period of last year, the number of tourists has grown 7%.

Estonian capital’s Deputy Mayor arrested over waste management dealings

The Deputy Mayor of Tallinn, Arvo Sarapuu, accused of deliberately violating procedural restrictions an especially large scale as part of a criminal case, has been arrested by the Estonian Internal Security Service.

Saeima ratifies convention on restriction for the use of mercury

On Thursday, 25 May, Latvia’s Saeima ratified Minamata Convention on Mercury. The objective of the convention is protecting people and the environment against anthropogenic emissions and leaks of mercury.

Europe experienced foreign investment records last year

Last year, Europe attracted a record large volume of foreign investments with 5,845 new direct investment projects, which is 15% more than the year before, according to results of EY European Attractiveness Survey.

Electric car charging network expands in Latvia to promote «greener thinking»

The once long-away dream of having cars that run on alternative fuel is now a reality – a special infrastructure network keeps expanding in Latvia to make electric cars more popular, says Motors Latvia BMW Group manager Ivars Norvelis.

Estonian Minister steps down after questioning NATO membership

Estonian Minister of Public Affairs Mihhail Korb has stated he resigns from office after saying he is not in favour of NATO membership.

Construction of a fish freezer commences at Ventspils Freeport

Construction work has commenced in Ventspils industrial territory on Talsu Street 200. Latvian National Fisheries Producers' Organisation plans to build a fish freezer facility there, as reported by Ventspils Freeport.

EC: there is a risk tax reform will increase inequality

There is a risk that Latvian government’s proposed tax reform will increase income inequality in the country instead of lowering it, said head of European Commission’s office in Latvia Inna Steinbuka.

Electronic monitoring of convicts will help have nearly EUR 500,000 for Latvia

Latvian State Probation Service believes electronic monitoring of convicts proved itself. This system has helped save nearly EUR 500,000 for the state budget since 2015.

Grandson of Stalin, who dropped Soviet tyrant’s surname, has died

Russian theatre director Alexander Burdonsky, the grandson of the leader of Soviet Communist mass repressions, Josef Stalin, has died at the age of 75.