6 March, Vitebsk /Diana Kurilo - BELTA/. Offering for sale inherently unattractive blocks of shares is one of the factors negatively affecting the privatisation process in Belarus. This opinion was expressed today at a regular session of the Vitebsk Regional Council of Deputies by the First Deputy Chairman of the State Property Committee of Belarus, Sergey Pyatkov, as reported by a BELTA correspondent. To stimulate the securities market, since 2011, restrictions on the circulation of shares acquired by individuals during the period of preferential privatisation have been completely lifted in the republic. Transactions for the disposal of such shares will be carried out exclusively through exchange trading. By a decree of the Head of State, the State Property Committee is authorised to make decisions on the sale and reduction of the value of shares of open joint-stock companies included in the privatisation plan, with the exception of shares of strategically important joint-stock companies. According to Sergey Pyatkov, these measures have allowed for prompt decision-making on the sale of shares and the organisation of trading. Last year, the State Property Committee organised over 200 auctions and tenders for the sale of 168 blocks of shares. Throughout the republic, blocks of shares of 71 OJSCs were sold for Br307.8 billion and $2.5 billion. The sale conditions provide for additional investment in the sold enterprises of approximately Br10 billion and $5 million. At the same time, the State Property Committee notes the existence of factors that negatively affect and hinder the privatisation process. In particular, Sergey Pyatkov considers the approach of some state bodies to the formation of the privatisation plan to be formal, which has led to a lack of demand for shares, and in some cases, to the cancellation of trading and the exclusion of joint-stock companies from the privatisation plan. He also cited the offering for sale of inherently unattractive blocks of shares or the establishment of unreasonable sale conditions as another reason. -0-

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