Timing of privatizations might be adjusted only based on investment consultation - Nabiullina
MOSCOW. Oct 6 (Interfax) - The timing of Russian company privatizations might be changed but only if this is recommended by investment consultants, Russian Economic Development Minister Elvira Nabiullina said at the Russia Calling Conference on Thursday in Moscow organized by VTB Capital.
"The timing of the sales, of course, might be adjusted bearing in mind the situation on world financial markets but only if this is recommended by professional consultants," she said.
She said that the Russian government plans to receive around $40 billion from privatizations over three years.
"But we're doing this not only for fiscal reasons but also for reducing the state stake in the economy, raising transparency, improving corporate management and developing capital markets," Nabiullina said.
She added that, in order to ensure the sales are transparent as possible, leading Russian and world investment banks have been brought in as consultants. Therefore, the government, in its decisions on the timing of various privatizations, will move based on consultant recommendations.