OREANDA-NEWS. July 21, 2008. The Belarusian government has adopted a privatisation plan for 2008-2010. The decision is laid down by Council of Ministers resolution No 1021.

The privatisation plan is divided into two parts. The first one lists 519 national enterprises, both small and large ones, which are supposed to be incorporated as joint-stock companies within the next three years. The second part lists 147 open joint-stock companies, which shares will be sold in line with decree No 7.

The resolution comes into force on the official publication date.

Decree No 7 of April 14, 2008 gradually lifts restrictions from the circulation of shares of Belarusian open joint-stock companies, which were created through privatisation and denationalization. Earlier alienation of these shares was forbidden.

During the first phase (starting July 17, 2008) the restriction on alienating shares of joint-stock companies, in which authorised funds the government share is zero or equals 75% and more, is lifted. The ban on alienating shares of joint-stock companies, which specialise in processing agricultural products, and shares of cereal product companies is fully lifted.

During the second phase (starting January 1, 2009) restrictions on alienating shares of joint-stock companies with the state share over 50% will be lifted.

During the first and second phase restrictions will stay in place for shares of joint-stock companies, which ensure the operation of strategic industries of the national economy.

During the third phase (starting January 1, 2011) all restrictions will be lifted.

Shares of open joint-stock companies, which are created through denationalisation and privatisation, will be sold at tenders and auctions.

The decree is meant to improve legal instruments, which regulate the privatisation of state property, to protect rights and legal interests of citizens. The document provides for working out a three-year plan for privatising national property objects. In line with the decree a list of national unitary enterprises, which are supposed to be privatised into open joint-stock companies, as well as a list of open joint-stock companies, in which government-owned shares are supposed to be sold, is supposed to be prepared.