Administrative Board of NIS adopted audit report on 8 billion RSD worth of losses

The Administrative Board of "Petroleum Industry of Serbia" (NIS) adopted the audit report yesterday (November 23, 2009), according to which the company registered losses of 8 billion RSD in 2008.

NIS stated in its announcement that the Administrative Board had unanimously confirmed the results of the company's performance in 2008 and the report done by independent auditor.

- In formal-legal sense, that is not the decision that is put in effect. The Administrative Board's suggestion should first be confirmed by the company's assembly, which will be held in the near future - Dušan Petrović, a member of the Administrative Board of NIS, told TV B92.

He added that he did not expect Serbia to "provide cash" to cover the losses.

- The citizens have no reason to worry because NIS will make progress and serious profit already in 2010 - said Petrović.