26 September 1994 00:00 [Source: ICB]
The German parliamentary committee investigating the Treuhandanstalt's privatisation policy for eastern Germany has concluded its work on an inconclusive note. Social Democratic committee chairman, Otto Schily has accused the federal government of interfering with the group's work and the committee's majority parties of the Christian Democrats and Free Democrats of letting the Treuhand 'write its own report' which gave the government-backed institution good marks for its role in privatising the former GDR's industry. Schily also complained that 'only around one third' of the 1.5m job promises were fulfilled by companies acquiring firms in the east. He also criticised the Treuhand for paying company liquidators too much.
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