NO NEW REDISTRIBUTION OF PRIVATE PROPERTY - STEPASHIN

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MOSCOW, March 28, 2004. (RIA Novosti) - Russia's Audit Chamber Chairman Sergei Stepashin believes that most businessmen should not fear the revision of the privatization results. This opinion was voiced by him on Sunday at the Orange Juice program on the NTV channel.

"Those, who worked normally and properly paid taxes, do not have to worry and look behind," Mr. Stepashin said.

"The analysis of the 10-year-long privatization, which is currently conducted by the Russian Audit Chamber, may reveal only 2 or 3 cases of the violations," Mr. Stepashin said.

He didn't name concrete names and companies. "I believe that cases of violations will not go to the Prosecutor's Office. We can resort to the scheme, proposed by Oleg Deripaska, Head of the Bazovy Element company. According to the scheme, if someone, who seriously underpaid, can share with the government," Mr. Stepashin noted.

According to the Chairman of the Audit Chamber, there will be no redistribution of the private property. He believes it would be expedient if companies, which had violated privatization regulations, allocated the unpaid means to social programs.

The privatization was more or less a political action, aimed to knock out the platform from under the Communist party and to form a middle class, Mr. Stepashin noted. According to him, such class had already been formed. "Most people working for large business companies have learnt how to work properly, especially those who work with the West. Such companies are transparent," Mr. Stepashin said.

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