Audit finds state mismanages stakes in companies

Czech ministries are not managing state ownership stakes in companies in line with official rules, according to a report by the Supreme Audit Office. The watchdog found that ministries failed to meet several requirements set out in the government’s 2020 ownership policy strategy, which aims to ensure transparent and effective oversight of state assets. Problems included unclear rules, missing qualification criteria for supervisory board members, and potential conflicts of interest. Auditors also noted that some companies were wrongly classified as strategic and that ministries focused mainly on dividend income, contrary to the strategy’s broader goals. The state holds stakes in dozens of firms across multiple sectors.