Gazeta: "White list to be made public"
Maxim Tovkailo
Anti-crisis commission approves a list of 250 state aid priority companies
On December 23, the governmental commission on sustainable development of the Russian economy met for the second time at the Government House on Krasnopresnenskaya Embankment. It was expected to submit the final version of the federal list of companies that could rely on urgent state aid.
It was planned to have 400-500 such companies (with another 1,000 companies to be selected on a regional level). However, the list approved by the commission yesterday was half as long. Today, the list will appear on the Russian Government's official website.
TO BE APPROVED BY THE PRIME MINISTER
At a meeting with President Dmitry Medvedev on December 1, First Deputy Prime Minister Igor Shuvalov initiated the idea of compiling a "white list" of companies entitled to priority state aid.
The Government explains the need for the list by the "necessity to ensure the normal functioning of the industrial sector." The listed companies will be entitled to easy term loans (with the Government to partially subsidise interest payments and provide surety when they apply for a bank loan), as well as state orders. In addition, they can boost their working capital by making the state a co-owner.
A commission on sustainable development of the Russian economy headed by First Deputy Prime Minister Igor Shuvalov was established to compile the list. Initially, the economic development ministry was to draw up a federal list by December 17, but it took longer. After the commission's meeting yesterday, Elvira Nabiullina, economics minister, explained, that the list of 250 companies was put together by uniting two lists: one of city-sustaining companies and the other - of leading companies in their sectors.
Last night, the list was to be submitted to Prime Minister Vladimir Putin for approval. However, even when the prime minister signs the list, it cannot be regarded as the final document.
First, the Government intends to amend the federal list depending on the situation in the real economy sector. If it worsens, the federal list may be increased from 250 to 400-500 companies. Yesterday, the industry and trade ministry proposed adding eight more chemical companies to the list.
Second. Elvira Nabiullina promised that the regional lists would be received by the end of the year. Together with the regional lists, the list of companies to be rendered priority state assistance will grow to 1,500.
WANT TO BE THE 500TH ON THE LIST?
The main intrigue is which companies will be put on the select list. The media has published some information during the last few days. They named major oil and gas and transport companies, leading car manufacturers and airlines. However, none could provide the complete list.
Elvira Nabiullina also declined to name the companies yesterday and listed only the sectors to be offered state aid.
Since the list of 250 companies includes defence industry enterprises, the list appears too short at present. According to the criteria worked out by the finance ministry, the list should have included about 300 companies without account of defence industry enterprises.
As to the natural monopolies, the Government is ready to help them directly from the budget funds. At yesterday's meeting, the commission approved the allocation of an additional 50 billion roubles ($1.7 billion) from the 2009 federal budget to transport monopoly Russian Railways to compensate for lower growth rates of rail cargo transportation tariffs.
In the near future, the government commission for budget projects chaired by Vladimir Putin must confirm the decision taken by the anti-crisis commission. The commission's meeting was postponed several times because of delays in drafting a forecast for the country's social and economic development for the next three years. On Monday morning it was still expected that the Putin commission would meet on Tuesday. Several hours later, the decision was cancelled.
Meanwhile, the budget commission will discuss cuts in budget spending in 2009.
The budgets of federal target and investment programmes may be cut by 15%, and the economic development ministry is drafting respective proposals now. The budget of the Investment Fund will be restructured. Yesterday, Dmitry Levchenkov, director of the economic ministry's investment policy department, said that the financing of nearly a half of the planned projects from the Investment Fund might be postponed from 2009 to 2010.
Shuvalov said last week that the final scale of cuts in budget spending would be clear only after the first quarter of 2009. The Government does not rule out that oil prices may rise again. However, during yesterday's trading session, the price of Urals oil hit a three-year low at $36.53 per barrel.
