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The government has accelerated state property privatization.

The government has accelerated state property privatization.

state property privatization

The government has changed the procedure for transferring property into state management under the State Property Fund for integral property complexes of enterprises, institutions, and organizations that are not included in the list of objects that are not subject to privatization or state ownership, reported at the Ministry of Economy. Now the initiative to transfer such objects will be shared by their management and the Cabinet of Ministers, the Ministry of Economy, and the State Property Fund. If the body that manages the asset does not agree to transfer proposals within the prescribed period, they will be transferred to the government without its approval. Following this, the asset will be transferred to SPF management as quickly as possible, with further preparation for an open and competitive auction.

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