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Medvedev believes state corporations should be reformed or abolished

October 20, 2012, 1:46 UTC+3

“The structure of property should be optimized by and large,” Medvedev said

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GORKI, October 20 (Itar-Tass) —— Russian Prime Minister Dmitry Medvedev believes it is necessary to minimize the number of federal state-run unitary enterprises, and to reform or abolish public corporations.

“The structure of property should be optimized by and large. We have repeatedly raised the theme of state unitary enterprises. The odds are their number must be minimized,” he said. “But that is to be done under a certain plan, without stopping day-to-day operation, but at the same time being aware that this largely ineffective form of organization is to be replaced by other state participation schemes,” Medvedev said at a conference on the privatization of state assets on Friday.

“I believe we should get back to the theme of state corporations,” Medvedev went on to say. He recalled that several years ago he pointed to the need for reforming public corporations into joint stock companies or abolishing part of them.

“The processes were launched. Some of the state corporations have become joint stock companies, and others are to terminate operations as they have achieved the tasks set to them,” he said. “This does not concern the corporations which by virtue of special reasons perform the function of state governance – commercial and managerial. In that sense they are rather effective.”

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