Representatives from various ministries and agencies reported on the status of the president's directive to minimise the federal government's participation in large companies by reducing its stake to below the controlling stake threshold or, in some cases, selling all of its shares. Infrastructure monopolies and companies involved with national security would be exempt from the initiative.
During the meeting, agency representatives were given specific requirements for increasing the amount of company shares to be sold and the deadlines for the transactions.
Mr Shuvalov instructed those present to work on the issues related to the procedures and conditions of privatising certain corporations in view of the president's directive. The procedures and conditions will be based on the proposals made by the investors and on the state of the financial market.
The first deputy prime minister reminded those present that the main objective of the privatisation directive was to improve the efficiency in managing the companies in question and to increase their market capitalisation.
The meeting was attended by Bank of Russia Chairman Sergei Ignatyev, Minister of Economic Development Elvira Nabiullina; Minister of Agriculture Yelena Skrynnik; Minister of Telecommunications and Mass Media Igor Shchegolev; Presidential Aide Arkady Dvorkovich; General Director of Sovcomflot Sergei Frank; Aeroflot CEO Vitaly Savelyev; President of United Shipbuilding Corporation Roman Trotsenko; President of Rostelecom Alexander Provotorov; President of ALROSA Fyodor Andreyev; RusHydro CEO Yevgeny Dod; President of MRSK Nikolai Shvets; CEO of Inter RAO UES Boris Kovalchuk; CEO of Rosagroleasing Valery Nazarov; and CEO of United Grain Company Sergei Levin.