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Belarus Premier in favor of revising privatization methods

MINSK, 12 November (BelTA) – Privatization methods in Belarus should be revised. Prime Minister of Belarus Mikhail Myasnikovich made the statement at the session of the Council of Ministers held on 12 November to discuss the country's social and economic development in January-September 2013, BelTA has learned.

According to the Prime Minister, the organization of privatization work this year has been dissatisfactory. The Industry Ministry, the Energy Ministry, the state food industry concern Belgospishcheprom, the state light industry concern Bellegprom, the administrations of Brest Oblast, Vitebsk Oblast, and Grodno Oblast have failed to achieve more than 50% of their assigned targets. Naturally the fact has complicated the foreign currency situation. “It is necessary to radically rethink the entire privatization system and follow only instructions of the head of state,” believes Mikhail Myasnikovich. He remarked that there are no prohibitive or restrictive lists today: “We can hold an open tender for a specific enterprise. If the offers are satisfying, we can bring them to the head of state”.

Mikhail Myasnikovich instructed the State Property Committee to assign privatization targets for every ministry and regional authorities for the sake of earning at least $1.5 billion from privatization in Q4 2013 and Q1 2014.

The influx of the money into the gold and foreign exchange reserves will positively influence the stabilization of the loans and deposits market and it will be possible to reduce interest rates on ruble loans, noted Mikhail Myasnikovich.