No new legal acts needed on privatization procedure – Shuvalov

MOSCOW. Dec 14 (Interfax) – All of the procedures for privatizing federal property are enshrined at the presidential and governmental level; the legislative framework is adequate to what should happen with privatization in the coming years, and it does not need to be enhanced, Russian First Deputy Prime Minister Igor Shuvalov said.

“All procedures are now fixed in federal law, presidential decrees and government decisions. I am confident that such a legislative framework is adequate to what should happen in privatization in the coming years. It seems to me that it would make no sense to strengthen it,” Shuvalov said, commenting on an initiative to transfer the powers of direct management over federal property to the president, including privatization via presidential decrees.

In any case, the most important assets will be sold in the framework of consultations with the presidential administration, he added.

“There is no need for any additional acts, it appears to me,” Shuvalov said.

Certain legal proposals submitted to the government are “legal proposals of the presidential administration,” he said.

“Whatever the president’s decision on how the privatization process will develop may be, we will fulfill it either way,” Shuvalov said.

The current legal framework has been fully formed so that it answers to the interests of transparent privatization and the selection of investment consultants on a competitive basis so that these services are provided with the involvement of the public, he said.

“We’ve spent the last five years preparing to start privatization on new principles: legislation has been drafted, the president has reached decisions on how the government should liaise with the presidential administration. I’m confident we already have the main legislative instruments at
our disposal and that the institution of privatization is developing according to a totally different scenario, based on civilized principles,” Shuvalov said.

Shuvalov also backed what the Russian president said in his address to the Federal Assembly when he urged the government when dealing with privatization not jut to think about how much it can raise for the budget but also about companies receiving good owners. “It is to this plan that we’ll be working,” he said.