Republic

Belarus used the mechanism of targeted sale of shares of big companies, Natalia Zhernosek, the director of the State Property Fund of the Belarus State Property Committee, told reporters on February 19. According to her, this mechanism has been already used in selling Beltransgaz’s shares to Gazprom. Moreover, in privatization Belarus uses a differentiated approach to the sale of companies depending on their scale. Hereafter, the State Property Committee monitors the sale of shares of such companies. According to Natalia Zhernosek, the sale of the shares of the state-run Motovelo has produced good results: wages have increased, stocks of finished products – reduced. First investors have arrived at the company. In 2007, for the first time in Belarus’ history, the shares of the state-run Bereza Silicate Articles-Making Plant were sold to a domestic investor. “A new class of domestic investors is starting to shape in Belarus,” Natalia Zhernosek noted.