According to the Economy Ministry, as of October 1, 2005 the state held stakes in 639 of the 902 open joint-stock companies established as a result of the transformation of state property. In 438 companies the state holds controlling stakes, and in 77 companies the state controls up to 25%.
The state auctions and sells via the Belarusian Currency and Stock Exchange its stakes in over 200 companies on an annual basis.
The Economy Ministry also drafted a schedule of alienation of unused and ineffective premises belonging to the state. A total of 76 entities will be sold of the 133 on the list of unused facilities or those considered ineffective for more than five years.
State budget revenues from sales of state property exceeded 1.3 billion Belarusian rubles in January-September. Republican legal entities received 4.9 billion Belarusian rubles for upgrade and production refit.
Economy Minister Nikolai Zaichenko told reporters not long ago that the government was interested in increasing the efficiency of state property use.
“We don’t make privatization our ultimate goal, we have shifted the focus to efficient use of state property. These are rent revenues, dividends and parts of profits transferred to the state budget,” Zaichenko said.
He went on to say that Belarus’ state budget revenues from sales of state property were expected between 1 billion Belarusian rubles and 1.5 billion rubles in 2006. “Privatization will be calm and reasonable,” Zaichenko said. According to him, state property may be sold when worthy investors arrive.