The government has obliged state companies to publish their financial reports, Economic Development and Trade Minister Aivaras Abromavicius has said.

"We on Friday at a meeting of the governmental committee made a resolution to provide transparency of state companies, as at present no one is obliged to publish their reports. We changed everything with this resolution," he told reporters after a meeting of the National Reform Council.

Abromavicius said that financial reports from all state companies will be published in an accessible form on the companies' websites or the website of the profile ministry. The standard for publishing the reports will be introduced and then the Economic Development and Trade Ministry will draw up an annual report for state companies on the basis of all the gathered data.

"The country should know its heroes," he said.

The minister said that today over the half of the state companies from the top 100 are unprofitable, only 20% of them have been audited and only 15% of them have supervisory boards.

"There are almost no corporate management standards here," he said.

Abromavicius added that the procedure for appointing auditors will be changed, to avoid a situation when unknown firms act as the auditors of large state companies.