By Irma Janauskaitė, LRT TV, LRT.lt.

Lithuania’s incoming government is facing criticism after floating the idea of buying back private investors’ shares in Ignitis Group, the country’s largest energy company.

Designated Prime Minister Inga Ruginienė moved quickly to calm concerns, saying any buyback would happen gradually. She argued that during a tense geopolitical period, a strategic company like Ignitis should be fully owned by the state.

Critics warn the plan could cost taxpayers up to half a billion euros, take two decades to pay off, and still leave unanswered the question of why it is necessary. President Gitanas Nausėda’s office also noted the lack of clear arguments for the move.

The buyback plan was not included in the coalition agreement signed last week by the Social Democrats, the Nemunas Dawn party and the Farmers and Greens Union.

Economists who reviewed the agreement said it clearly signals new policies: an additional tax on banks, scrapping the Food Council created to monitor prices, higher excise taxes on alcohol and tobacco, and a freeze on fuel excise hikes.

More read: LRT.LT