site.btaWe Are Finalizing Structure, Composition of “People’s Store” Board of Directors, Says Agriculture Minister Tahov

Agriculture and Food Minister Georgi Tahov said Wednesday that work is in its final stages on defining the structure and composition of the board of directors, as well as selecting a CEO for the state-owned joint-stock retail company "People’s Store". He added that once preparations are complete, a proposal will be submitted to the Council of Ministers for official approval.

In March, the National Assembly approved a proposal for the creation of a state-owned company that would operate a chain of stores selling goods only from Bulgarian producers. The proposal was submitted by MRF-New Beginning. Under the proposal, the company would have a capital of BGN 10 million, with the Agriculture and Food Ministry holding ownership of the capital. The company would operate a chain of stores offering food and other essential products, primarily from Bulgarian producers, with a mark-up of up to 10%.

“There is no delay in the process,” the minister told reporters. “We’ve received proposals regarding both structure and personnel, and we are currently analyzing them. At no point have we abandoned the idea,” he emphasized. According to Tahov, the ambition goes beyond opening just one store – the goal is to roll out a broader and more impactful realization of the concept.

Commenting on Bulgaria’s adoption of the euro, Tahov reiterated that the agricultural sector is already largely integrated with the single currency, since all payments under the Common Agricultural Policy (CAP) have been made in euros since Bulgaria joined the European Union. In his view, the benefits of joining the eurozone far outweigh the drawbacks. Nevertheless, he warned of the need to remain vigilant against malpractice and speculative behaviour – issues that have surfaced in every EU country transitioning to the euro. Wednesday's informational meeting, he added, was part of preventive efforts in that regard. He also reassured that there are no risks concerning financial support in the sector.

Regarding the European Commission’s proposed changes to the CAP for the next programming period, Tahov pointed out that they represent a significant departure from the current model and from Bulgaria’s vision for the future. “Today’s event aims to collect feedback from agricultural producers on these proposals, which will later be reflected in Bulgaria’s national position through a decision by the Council of Ministers,” he explained. He acknowledged that farmers’ concerns are legitimate but reminded everyone that these are still just proposals at this stage.

Commenting on forestry, Minister Tahov noted that the challenges facing the sector are not new — they’ve been building for over 15 years. “Perhaps the time has come when the issue has finally gained the relevance it deserves,” he said. Tahov recalled that, under the Bulgarian Commerce Act, state forest enterprises are classified as public companies and do not rely on the national budget for funding. “Yet they are requesting exactly that – budget support,” Tahov noted. However, he stressed that not every struggling sector can seek help from the state budget, as its resources are limited. In his view, the way forward for state forest enterprises lies not in budgetary support, but in legislative reform.