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Government falling behind plan to sell shares in new stock corporations, official says

The government has fully met its target for the conversion of companies into stock corporations but fallen behind its plan to sell shares into private hands, Ryhor Kuznyatsow, chairman of the State Property Committee, told reporters in Minsk on Tuesday.

Only five government-owned companies have remained unconverted, he said, noting that their ownership reform would “make no sense.”

As for the failed sale target, the official said that the "unwillingness" of the chief executives and ministries controlling the companies to look for investors was to blame. “They fear that they will find themselves on the shelf after an investor shows up,” Mr. Kuznyatsow said.

Besides, there are ailing companies whose revival seems to be extremely difficult even with the aid of budgetary funds and investments, he said, adding that the list included 244 enterprises. //BelaPAN