The government asks state-owned companies to sell non-core assets

the Federal property management Agency is asking state-owned companies refrain from selling non-core assets, from the December letter service to the companies (Vedomosti’ve seen a copy, the authenticity was confirmed by the representatives of Rosimushchestvo and the Ministry of economic development). “We recommend to the Board of Directors not to make decisions about selling assets,” reported the representative of the Ministry of economic development the position of Deputy Minister Oksana Tarasenko.

But this applies only to those state-owned companies that were in the privatization plan, said a representative of the Agency. In the plan for the 2017-2019 biennium. was 477 joint-stock companies in the new in 2020-2022 gg., published January 9 — 186. The Agency sent a letter to specific companies of the forecast plan of privatization of the 2017-2019 biennium. in the distribution not included “daughters” state corporations, said the representative of the Agency.

Now the task is to ensure the sale of their shares to the Federal budget received as much money as possible, writes the Agency. Therefore it is not necessary now to sell their assets, even non-core. The goal is to keep the cost of shares of companies and special situations, for example if the sale is necessary to prevent the bankruptcy of the company, should be dealt with separately, says Tarasenko. The recommendations of the Federal property management Agency must maintain the integrity of the property complex and assets, and to prevent the decline of investment attractiveness, lists the representative of the Agency.

the Government abandoned the privatization of several major companies of the Ministry do not want to part with the assets Economy

Earlier, the authorities said state-owned companies should actively get rid of non-core assets. In 2016, Russian President Vladimir Putin instructed to develop a procedure for evaluation and sale. And the then Minister of economic development Alexei Ulyukayev proposed to deprive of state support state-owned companies and state corporations that do not deal with the sale of non-core assets. The company badly implement a plan for the sale of non-core assets, because the market there is no demand, or they are illiquid, or badly worn or need to be re-tendered, then said a Federal official.

Share of public sector in the economy grows, does not get tired to state the Federal Antimonopoly service (FAS). Before crisis of 1998 it was estimated approximately 25% of GDP, says the FAS, in 2008 to 40-45%, to 2013 has exceeded 50%. In 2017 it could be higher than the 60-70% of GDP, refers to the service for evaluation is not named in the report of the experts, in 2018, the situation has not changed significantly. Although quantitative changes occur. So, for the last five years, the number of FSUE and institutions decreased by 44.34% and the number of JSC with a share of state participation has decreased in two times, according to the Ministry. In eight years (2013 — 2020) of the privatization program, the share of Treasury will be reduced to 21.9% in 2020 relative to 2012, that is reduced to 4.57%, and the number of organizations with state participation, respectively 42,23%, a decline of 2.37 times compared to 2012, These calculations of the FAS cited with reference to the experts.

Perhaps the government believes that after the arrival of the new owner privatezirovana company can change the strategy and some non-core assets will be profiled, says the head of the group of services in the field of corporate governance EY Oleg Shvyrkov. Or the Agency can expect that corporate governance in the privatized company usovershenstvuetsya, and the new owner will improve the procedure for the sale of non-core assets — from the point of view of their transparency and competitiveness, he said.