RUSSIAN PRIVATIZATION GOES SLOWER THAN PLANNED

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MOSCOW, 12 April (RIA Novosti)-The upper chamber of the Russian parliament, the Federation Council, and the Audit Chamber have called for the rights of the Russian Fund for Federal Property to be expanded. On Monday, a session of the Federation Council commission on interaction with the Audit Chamber decided to make the necessary legislative amendments.

The idea is to expand the right of the fund during preparations to sell share packets. In particular, the fund's possibilities to acquire extra share packets will be expanded, as will its opportunities for joint activity with other property owners in an effort to increase the capitalization of the property being privatized. All this, in the opinion of the senators and auditors, will increase the efficacy of privatization.

The commission session heard a report from the Audit Chamber on checks into the efficacy of the privatization of state property in 2002 and 2003. According to the verification process, the federal property fund only managed to privatize 8.7% of the planned share packets. In the first six months of 2003, only 0.7% of the planned privatization program for the year was carried out.

On April 22, a report on the 2003 privatization campaign will be given at a government session. An additional list on property that remains to be privatized from last year will be confirmed.

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