Privatization Agency of Kosovo

Privatization Agency of Kosovo is established as an independent public body, which shall carry out its functions and responsibilities with full autonomy, pursuant to the Assembly of Kosovo Law No. 04/L-034, on the PAK. PAK shall possess full juridical capacity and in particular the capacity to enter into contracts, acquire, hold and dispose of property and have all implied powers to discharge fully the tasks and powers conferred upon it by the present law; and to sue and be sued in its own name. PAK is established as the successor of the Kosovo Trust Agency regulated by UNMIK Regulation 2002/12 “on establishment of the Kosovo Trust Agency”, as amended, and all assets and liabilities of the latter shall be assets and liabilities of the PAK. The Special Chamber has exclusive jurisdiction for all suits against the Agency. The powers of the PAK vest with the Board of Directors composed of three International and five Kosovar Directors. In compliance with the PAK previous Law No. 03/L-067, the inaugurating Board meeting of PAK took place on 26th of August 2008. Since then, the PAK continues with privatization of Socially Owned Enterprises (SOEs).