Minfin Controls State Companies External Borrowings in Manual Mode
OREANDA-NEWS. January 25, 2011. The Finance Ministry still regulates government-run companies’ entrance to the external lending market in manual mode, deputy finance minister, Dmitry Pankin said. “As the New Year has already begun, I am sending requests to all state-run companies, asking them to inform us of all of their lending plans.
We review all of them, contact them if necessary and correct shortcomings. This work is currently being done by hand”, Pankin said. He recalled the Finance Ministry had drafted a bill that will oblige government representatives on companies BoDs to coordinate their positions in respect of external borrowings with the Ministry. “We are set to ratify the bill; however, we have not yet had it reconciled with other authorities, particularly the Economic Development Ministry and the FFMS”, Pankin said.
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