Salt-work "Bajo Sekulic" from Ulcinj is in deficit of about 1 million DEM for the first six months of this year. Obligations to the Fund for development, Montenegrobanka, suppliers and workers were not paid. The Salt-works are on the list of companies intended for Mass voucher privatisation in which 54% of the worth of the capital would acquire a new owner. The deficit of 469,000 DEM in half-year report the company explained by reduced demand and preparations for collection of the new salt. "The deficit is minimal because the real effects of the collection are seen in the second half of the year," explained the management of the company. Last year the Salt-works had profit of about 17,000 DEM. At the same time the total income of the company was almost 7.5 million DEM. Salt-works do not sell their products in international market. Average annual production is about 25,000 tons of salt. Old machines in the plant for finalization of final products complicate business activities. Refinery which is more than 30 years old prevents production of more quality salt. Management of the company is of the opinion that reconstruction of present or purchase of new machines cannot be done because of the lack of banking credits. The company has not precisely stated the technical surplus of workers or the way in which it should solve that problem. Average net wages are about 150 DEM and they are several months overdue.