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Government sets next year's privatization revenue target at $4.5 billion

The government plans to raise up to $4.5 billion by selling its stakes in companies to investors in 2014, according to a plan of economic reforms adopted by the Council of Ministers and the National Bank of Belarus on October 10.

The government wants to sell its stakes above all in struggling companies, as well as in small companies where it holds less than 25 percent and bigger companies where it holds less than 50 percent.

The plan provides for the issuance of a presidential edict that would make it easier for the State Property Committee to sell idle and inefficiently used state property.

In addition, the State Property Committee is expected to be allowed to sell an insolvent and uncompetitive company for one time the Base Rate (130,000 rubels at present).

Deputy Prime Minister Pyotr Prakapovich has been given the function of supervising the implementation of the privatization plan. //BelaPAN