NBRB Exchange Rates на 22 июля
USD/BYN
1.9351
0.59%
19:11
EUR/BYN
2.2534
0.63%
19:11
100 RUB/BYN
3.2849
0.24%
19:11
100 UAH/BYN
7.4815
0.39%
19:11
10 PLN/BYN
5.3228
0.1%
19:11
1000 KZT/BYN
5.9627
0.2%
19:11
10 CNY/BYN
2.8593
0.54%
19:11
GPB/BYN
2.5177
0.15%
19:11

Government initiates a ban on privatization revision

Privatization
15:17 | 03.04.2013 | Business-News

The Council of Ministers instructed the State Property Committee and Ministry of Economy to prepare in 2013 amendments to the applicable law “On the privatization of public property and transformation of state unitary enterprises into joint stock companies”. It is planned that a ban on the revision (cancellation) of the results of the privation of public property after its realization will be set at the legislative level.

 

Such instruction is contained in the roadmap of the development of small and medium business, approved by regulation of the Council of Ministers No. 241, dated by 30 March.

 

As the agency BUSINESS NEWS reported, business unions of Belarus proposed the introduction of a legislative ban on the revision of the privatization results. According to the co-chairperson of the Republican Confederation of Entrepreneurship Victor Margelov, it is “a new attempt to implement President’s directive No. 4”.

 

Margelov reminds that one of the points of the directive, that has not been implemented, is the preservation of irreversibility of the privatization results in order to enhance the protection of the rights of investors and private property.

 

By means of regulation No. 241 the Government also approved the proposal of business unions to increase at least fivefold the real estate tax rates on the sites of real estate that is not used as well as sites of public property, which is used inefficiently.

 

“It is planned that the implementation of this rule will make the owners either sell idle public property or start its efficient use”, Margelov thinks.

 

The Government instructed the Ministry of Economy and State Property Committee to prepare in the first half of 2013 a draft law that stipulates the sale of real estate in public domain, as well as in the property of economic societies, where state’s share in the authorized capital exceeds 50 %, rented by an economic agent for more than 3 years, on the basis of a declarative principle.

 

 It is also planned to introduce administrative responsibility of officials for unreasonable refusal or failure to take decision on the alienation of such real estate.

All materials published by the information and analytics agency BUSINESS NEWS intended for general information purpose and are not a public offer to buy/sell any securities, or make other investments. The data contained on doingbusinessby.com, obtained from sources the agency finds credible. At the same time the editorial and authors are not liable for damages caused by the use of presented materials. Reprinting of materials is permitted only with BUSINESS NEWS authorship attribution and link to doingbusinessby.com.