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First Deputy PM Shuvalov demanded to prepare updated privatization plans in two weeks

 
29.05.2012

Vedomosti reports this morning that during a meeting he hosted on 22 May, First Deputy Prime Minister Igor Shuvalov demanded that the Ministry for Economic Development and the government’s staff update the privatization plan in order to broaden the list of assets planned for sale. Also, according to the paper, a separate letter to Prime Minister Dmitry Medvedev from Economy Minister Andrey lousov advocated accelerated privatization. Vedomosti writes that the updated programme is to be ready in two weeks.

This news is soothing confirmation that the overall vector towards the ambitious privatisation push remains intact, notwithstanding the time-out on the privatisation of the energy and electric utilities sector introduced by President Vladimir Putin’s decree last week. The ability to execute sales, especially those destined for the public market, within months is hostage to the market conditions. Otherwise, even as the privatisation is a source of additional sizable supply of Russian equities, implementing it in a determined way would act as a powerful indication of the new government’s execution capacity and, hence, would enhance the credibility of the constructive policy agenda promoted by Putin and Medvedev over the past six months.

Alexey Zabotkin, Sergey Galkin, Ilya Piterskiy, Anastasia Markina
VTB Capital analyst

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