Russian authorities should provide more info on privatization plans - Blackstone Group
MOSCOW. Oct 31 (Interfax) - The head of Blackstone Group, Stephen Schwarzman, has said he thinks the Russian authorities ought to provide more information on plans for privatization and have a specific plan for conducting it.
Privatization requires a specific and detailed program, he said. The more announcements and information on it is provided, the more favorably it will be received, Schwarzman said at a meeting of the International Advisory Council for the creation and development of an international financial center.
He also said that the availability of a detailed privatization schedule is a sign of faith in the exchange rate.
Schwarzman expressed the view that the Russian authorities would be wise to find another term to describe the sale of state property. Since the 1990s, he said, the term 'privatization' has become tainted, he said.