Time not ripe yet to lift sanctions off Russia but issue may get to agenda — MerkelWorld August 28, 20:40
Medvedev signs order lifting ban off chartered flights between Russia and TurkeyBusiness & Economy August 28, 15:01
Gerard Depardieu opens cultural center in SaranskSociety & Culture August 28, 7:22
Protesters pelt Ukrainian embassy in Moscow with eggsRussian Politics & Diplomacy August 28, 0:41
Russian sports minister says couple pages missing from McLaren's initial reportSport August 27, 13:26
Lavrov, Kerry round up 12-hours-long talks in GenevaRussian Politics & Diplomacy August 27, 2:50
Competitions for Russian Paralympians banned from Rio to be held in early SeptemberSport August 26, 21:35
Russian swimmer breaks world record in 100 m IM on short courseSport August 26, 21:15
Russian lawmaker believes prospects for pan-European Army dim after BrexitRussian Politics & Diplomacy August 26, 21:01
MOSCOW, February 1. /TASS/. Russian President Vladimir Putin demanded to ensure maximal transparency of privatization on Monday.
"All the privatization transactions should strictly conform to norms and requirements of law," the President said at the meeting on economic issues. "Maximal transparency of these deals should be ensured," Putin said.
The deals should be transparent for contracting parties and for the public, the head of state said.
Privatization topics were already discussed with Prime Minister Dmitry Medvedev, the President said. The today’s meeting will determine specific parameters of privatization in 2016 and decide what stakes may be sold and what should remained the government property, Putin said.
According to Putin, blocks of shares owned by the state should not be sold for next to nothing or at giveaway prices.
"There should not be any sales of shares for next to nothing, at a giveaway price," the president said. "This will not be of any special benefit for the budget. Furthermore, such practice may give rise to takeover of companies by competitors and this is not the best for the market ultimately. Definitely, this should be avoided," Putin said.
The government should retain control over stakes of strategic state-owned companies, Putin said. "After the privatization the state should not lose control of strategically important enterprises," the President said. "I would like to point out that controlling stakes in strategic companies with state participation need to stay in the hands of the state," he added.
Greater attention should be paid to quality of investors, their business reputation, and the track record, the head of state said. "Privatization of shares is only possible if a buyer has a development strategy for the company to be acquired," he added.