President of the National Association of Privatized and Private Enterprises Grogory Tomchin says that "indicators such as income from privatization do not give a true picture of the privatization that has occurred."
Photo: Alexander Miridonov
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Rosimushchestvo: 4 Yrs. of Privatization
The number of federal state unitary enterprises has been reduced by 43 percent in the last four years. That is among the results of the Federal Property Management Fund (Rosimushchestvo)'s privatization campaign, the 2007 results of which were released yesterday. Income from privatization last year was 19.3 billion rubles, 10 percent higher than in 2006. Shares in 377 organizations were sold. The sale of another 523 enterprises has been announced for 2008. Last year, Rosimushchestvo received the authority to set beginning and minimum prices itself. Previously, that had been done by the Russian Fund for Federal Property. An additional 1.4 billion rubles was generated because of that.
Rosimushchestvo devoted a special section of its report to the results of its four-year effort at “optimization and restructuring of the state sector of the economy.” The number of federal state unitary enterprises was reduced significantly, although they were all turned into 100-percent state-owned joint stock societies. The portion of joint stock companies in which the government owns a non-controlling share was reduced from 81 percent to 39 percent. At the same time, the portion of joint stock societies fully owned by the state rose from 4 percent to 54 percent.
Chairman of the Federation Council Committee on Industrial Policy Valentin Zavadnikov intends to criticize sate corporations in a report to the Federation Council today. “Today, the creation of such structures is undertaken as a panacea and has already almost become the trademark of Russian economic policy. Having studies the legal status of the state corporation, we reached a number of disturbing conclusions, for the true effectiveness of that form of organization raises many questions. Instead of reducing the role of the state in the economy, as has been repeatedly declared the goal of state policy, we, on the contrary, we creating a new bureaucracy that will make money by exploiting its authority,” he said.
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All the Article in Russian as of Feb. 20, 2008
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