The Council of the Republic Approves New Rules of State Property Privatization

01.07.2010 11:03
Архив Редакция

On June 30, members of the Council of the Republic approved a series of draft laws, governing economic sphere and aimed at creation of favorable conditions to attract investment in Belarus. One of the approved documents is a draft law on privatization of state property and establishment of effective control over the process.

The draft law makes amendments and additions to some legislative acts, according to which the issues of privatization and transformation of state-owned unitary enterprises into open joint-stock companies are regulated at a conceptually new level, reported in the Council of the Republic.

The bill introduces new principles of privatization, secures the planning of privatization processes for medium term, including the transformation of state enterprises into JSC. There expands the list of privatization methods.

The Council of the Republic approved another bill in the sphere of property relations — «On facilities, which are the state property only, and on activities, which realization is an exclusive right of the state».

The Chairman of the State Property Fund of the State Property Committee of Belarus, Natalia Zhernosek, reported that the most important objects of privatization, as evidenced by practice, are enterprises as property complexes, BelaPAN informs.

«The adoption of this bill would reduce budgetary costs on state property management», Natalia Zhernosek believes.