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Ministry proposes slashing government privatization plan says Kommersant

© RIA Novosti . Sergei SubbotinMinistry proposes slashing government privatization plan says Kommersant
Ministry proposes slashing government privatization plan says Kommersant - Sputnik International
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Russia's Economic Development Ministry has proposed removing all major state-owned assets from the government's privatization plan for 2011-2013, Kommersant business daily reported on Tuesday.

Russia's Economic Development Ministry has proposed removing all major state-owned assets from the government's privatization plan for 2011-2013, Kommersant business daily reported on Tuesday.

The plan had originally intended to bring an extra 1 trillion rubles ($33 billion) to the state's coffers.

Privatization proceeds from the sale of state share packages on the new list would yield only 16 billion rubles in the next three years.

The new plan, which the paper claims to have seen, also suggests that privatization of the most liquid assets will only be allowed after approval by the Russian president and prime minister.

The adjusted list of privatizations in 2011-2013 excludes the sale of state-owned stakes in oil major Rosneft (25 percent minus one share), RusHydro hydropower generator (7.97 percent minus one share), the Federal Grid Company of Unified Energy System (4.11 percent minus one share), the country's largest shipping company Sovcomflot (50 percent minus one share), top bank Sberbank (7.58 percent minus one share), VTB bank (35.5 percent minus one share), the United Grain Company (100 percent by 2012), Rosagroleasing agricultural leasing company (50 percent minus one share from 2013) and the country's rail monopoly Russian Railways (25 percent minus one share), the paper said.

The country's largest airline Aeroflot and Moscow Sheremetyevo, Russia's biggest international airport, which were previously listed in the privatization plan, were also excluded from the list, the paper said.

The new list, sent to the government by the ministry last week, proposes privatization of leading apatite concentrate producer Apatit, Prosveshchenye publishers, S7 Airlines, Arkhangelsk Trawler Fleer fishing company, the largest off-road vehicle producer UAZ, the Murmansk Marine Fishing Port, Vostochny Port and Diamond World company, the newspaper said.

"Income to the federal budget from privatization of federal property is expected at six billion rubles in 2011 and at five billion rubles annually in 2012-2013, with disregard for the cost of shares of the largest state-owned companies holding leading positions in relevant industries," the paper said, referring to the adjusted plan.

The Economic Development Ministry gave no comment to Kommersant.

MOSCOW, November 16 (RIA Novosti) 

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