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The Ministry of Property is ready to earn money for the state

If market conditions are good, the federal budget will receive about 35 billion rubles from privatization. It is planned to earn approximately the same amount by managing federally owned blocks of shares. This was stated yesterday by First Deputy Minister of Property Relations, State Secretary Alexander Braverman. But there is an obstacle on the way to executing the budget revenues: neither the main nor the additional list of enterprises subject to privatization has been approved by the government, and, therefore, there is nothing to sell yet. The Cabinet of Ministers, however, should consider them in the near future.

The Ministry of Property places its main hopes on the sale of shares in Slavneft and Siberia Airlines, as well as on the LUKOIL stake that was unsold last year due to falling oil prices. 5.9% of LUKOIL shares are planned to be placed on the London Stock Exchange in June-July. Mr. Braverman declined to say how much revenue the state expects, but emphasized that the lower limit of the share price will be at least $12-$13. 19.6% of Slavneft shares will be sold in October-November in order to space out the sales of single-profile companies. The budget, according to the Ministry of Property, should receive at least $300-350 million from the sale of Slavneft.

The stake in Svyazinvest is included in the plan, but will be sold only after the completion of structural restructuring, which, according to Braverman's assumptions, will increase its value several times. Of the less significant objects subject to privatization this year, we can note stakes in Tomsk Airlines, Vorkutaugol, Kuban River Port and the Orlyonok Hotel.

Recently, Prime Minister Kasyanov signed a decree on the withdrawal of state unitary enterprises (SUEs) from the capital of commercial banks. Although, according to Mr. Braverman, they promise not to speed up the process. He confirmed that the state does not receive any benefits: there are no dividends or increase in the market value of shares. The exit of the State Unitary Enterprise from Transcreditbank, which is associated with the Ministry of Railways, will be linked to the reform of the railway industry. The state intends to act similarly in relation to Komneivabank, affiliated with Minatom.

Vera SITNINA