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Mikhail Fradkov has approved the federal property privatization program for 2007 and the key areas for federal property privatization for 2007-2009
Russian Prime Minister Mikhail Fradkov has approved the federal property privatization program for 2007 and the key areas for federal property privatization for 2007-2009, the government's press service said Wednesday. The Economic Development and Trade Ministry will implement the program. Economic Development and Trade Minister German Gref said in early August that next year's privatization campaign would bring 41 billion rubles ($1.53 billion) into the treasury's coffers. He said Aeroflot, Russia's flagship air carrier, and telecommunications giant Svyazinvest could feature among 1,600 state-owned companies slated for privatization in 2007. Before they could be privatized, however, the minister said both Svyazinvest and Aeroflot would have to be taken off the government's list of strategic enterprises, which also includes defense, mining and other companies deemed key to Russia's national security and therefore off limits to foreign investors. Gref said later in August, though, that Svyazinvest might be reorganized rather than privatized, but he added his ministry remained in favor of selling the government's 75% stake.
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